Instead of waging a war against cross border smuggling of fake Indian currency notes, the police and intelligence agencies are now focussing on fake coin minting dens operating in Delhi-NCR and adjoining states.
Several fake coin miniting factories have been busted by police and intelligence agencies in the past few months with latest raids carried out in an industrial belt near Faridabad.
"The gang supplied these fake coins to the toll plazas across the national capital. Although the investigation is in initial process but we suspect influx of fake currency coins worth more than a crore by the gang," said Sanjay Kumar, Commissioner of Police, Faridabad.
In the past as well the national capital and its outskirts have been a breeding ground for such cases where fake currency manufacturers pumped in fake coins of Rs 5 and 10 denominations through local markets and toll booths on the national highways.
Back in 2016, the Delhi Police had busted a similar racket where in the month of October, a case of manufacturing and circulation of counterfeit coins was busted and two men namely Gulshan and Sachin were arrested from Shiv Vihar, Nilothi Extension.
Counterfeit coins manufacturing unit alongwith fake coins worth more than Rs five lakh in the denomination of Rs 5 and Rs 10 were recovered from their possession. The accused had till then infused more than Rs 10 lakh worth of coins in the market.
Explaining their modus operandi, the police said that the accused on occasions posed as employees of the Reserve Bank of India (RBI) or of some other bank. This helped them sell off the fake coins and on sometimes even helped them escape the authorities.
"In 2016 when the prime accused of the fake currency racket was arrested he had tried to use the same trick by claiming that he was an employee of Punjab National Bank, but on further questioning he gave up and accepted his involvement," a senior police officer said.
While in 2017 another fake coin racket was busted where the gang, working across north India, was behind minting and circulating fake coins with the face value of around Rs 50 crore in the past few years. The kingpin of the racket Upkar Luthra was also allegedly involved in the murder of his business partner and had a reward of Rs 1 lakh on his head.
India has had many fake currency gangs but majority of them worked from the neighbouring countries, however since the past few years factories manufacturing fake currency within the national capital have increased manyfold. Police officials in the capital believe that the industrial townships in the capital city have been a reason for the same.
These industries easily get camouflaged in the industrial areas like Bawana, Nodia, Ghaziabad and many others. The movement of manufacturing items like dye, hydraulic press and polishing equipment becomes easy as these are normal things in an industrial setup.
"It becomes easy for the accused to bring in raw material and other equipment to their makeshift factories without raising any doubts in the locality. Industrial setups in the neighbourhood help them camouflage their illegal rackets," a senior police officer said.
Though faking currency is an offence that can invite a maximum of life imprisonment, rackets like these are running rampant in the national capital.
As per laws only the Reserve Bank of India can issue coins for circulation. Coins are minted at four government mints in Mumbai, Kolkata, Noida and in Saifabad and Cherlapally in Hyderabad.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)