US invites India to visit fake currency detection unit: Govt

"The United States has invited a team of Indian officials to visit the US facilities related to system of detection of counterfeit currency and storage of data on the same. The US has offered technical assistance to help India develop its data base on counterfeit currency," Finance Minister P Chidambaram told Rajya Sabha in a written reply yesterday.

The US has also offered training for Indian officials in the area of detetcing counterfeit currency, with theoretical inputs as well as practical aspects including analysis of seizures of US dollars from all over the world, elements of organised crime, state sponsorship and modus operandi of printing of counterfeit currency, he said.

Indian and the US are cooperating in the area of combating counterfeit currency within the frame work of the India-US Homeland Security Dialogue launched in May 2011.

"The two sides are strengthening agency-to-agency engagements, including in the areas of intelligence exchange, information sharing, and capacity building in the area of combating counterfeit currency," Chidambaram said.

Replying to another question, he said as per the reports submitted to the Reserve Bank of India, the private banks have during the course of their operations detected 3,34,948 counterfeit notes during 2009-10, 3,76,460 in 2010-11 and 4,62,865 in 2011-12.