India to seek US help to check fake currency notes

Worried over circulation of fake currency notes by elements in Pakistan, India will seek cooperation from the US in imposing sanctions and blacklisting firms which provides paper, ink and machinery for printing currency notes in excess to the requirement of any country.
Home Minister Rajnath Singh will place the proposal before his US counterpart Jeh Johnson during the US-India Counter-terrorism and Homeland Security Cooperation dialogue slated to be held in Washington in December.
Official sources said India and US may consider cooperation for bringing certain safeguards and obligations on a reciprocal basis on currency material manufactured all over the world.

Any entity associated with sale, manufacture and trade of the currency printing machine, equipment, services and consumables would be blacklisted by both countries if found to be involved supplying machine, material of services to a country or entity known to be printing counterfeit currency notes.
Sources said violating Indo-US code of conduct on sourcing of its production processes and materials from identified nations, maintaining excess inventory of raw materials than required are some of the other issues to be under scrutiny.
"If any currency materials manufacturers is found to be negligent and complacent in supplying currency making materials to a country which is allowing its soil to make counterfeit currency notes, sanction should be imposed on it," a source, privy to the discussion.

Indian agencies have been claiming that almost all fake Indian currency notes are being circulated at the behest of Pakistan and elements within that country.