WebinarsNew
Deep DiveNew
Explore Business Standard
Fake Notes
Two men, including an inter-state accused, were arrested for allegedly printing and circulating fake Rs 500 currency notes, police said on Tuesday. The accused have been identified as Arvind (47), a native of Mysuru, and Venkata Subramanian (around 60), a resident of Chennai, they said. Police claimed to have seized 338 counterfeit Rs 500 currency notes, a photocopy machine, a laptop, a car, mobile phones and other incriminating materials, with the total value of the seizure estimated at Rs 3.29 lakh, police said. On July 3, the Kumbalagodu Police received a tip-off that a tenant residing in a BDA apartment within the police station limits was circulating counterfeit currency notes, police said. According to police, acting on specific intelligence provided by the informant, they detained a suspect near Kenchanapura Cross. During interrogation, the accused allegedly confessed to printing counterfeit currency notes and selling them to an associate based in Chennai. On July 4, the ..
As many as 2.17 lakh pieces of fake notes of various denominations were detected during 2024-25 compared to 2.23 lakh such notes in the previous year, Parliament was informed on Monday. Of this, highest -- 1,17,722 pieces -- counterfeit notes of 500 [MG (New) Series] were detected in FY25, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha. This was followed by 51,069 pieces of such notes of 100 denomination and 32,660 notes of Rs 200, he said. "Government of India, in consultation with Reserve Bank of India, reviews the effectiveness of security features of banknotes from time to time and undertakes measures to introduce new security features in accordance with Section 25 of the Reserve Bank of India Act, 1934. Incorporating new security features/new designs in the banknotes to stay ahead of the counterfeiters is a continuous process," he said. In reply to another question, Chaudhary said, the RBI has noted that net fixed assets of private limi
A special NIA court in Bihar has sentenced a key accused in the East Champaran fake currency case to five years' rigorous imprisonment, an official said on Sunday. Raisuddin, a resident of Mohanpur village in West Bengal's Malda district, was also fined Rs 5,000. The court convicted him in the 2015 case on August 18. He was sentenced on Saturday, a spokesperson for the federal agency said. He has been sentenced to five years of rigorous imprisonment with a fine of Rs 5,000 under various sections of the Indian Penal Code and the Unlawful Activities (Prevention) Act, the official said. Raisuddin is the fifth person to be convicted and sentenced in the case relating to the East Champaran Fake Indian Currency Notes (FICN) case. The Directorate of Revenue Intelligence, Patna, initially registered a case on September 19, 2015, following the seizure of high-quality FICN with a face value of Rs 5,94,000 (Rs 5.94 lakh) from another accused, Afroz Ansari. Ansari was carrying the FICN ...