Fake currency issue is not new to the Indian Economy, it has been there for some time now. Sources believe counterfeit currency worth Rs 169,000 crores (Rs 169 trillion) is in circulation in the country. This is a very sensitive issue and needs to be taken care of and dealt with great care. I believe the government, banks and the Reserve Bank of India are all in denial mode when dealing with the issue. That attitude has to change. Instead of denying the facts they should stand up together and act against it.
The RBI gets to know when an entire series of currency notes has been faked. The RBI should immediately withdraw the series once such things happen. The Banks follow a process where they simply destroy the fake currency when it comes to them. They should instead lodge a police complaint and try to reach the origin of the problem. The police shall also refrain themselves from troubling the person who has reported such a problem. That should solve the problem to a great extent.
I believe the Government importing ink and paper for currency is one major issue and a weak link. Why can't we manufacture these within the country. It is also believed that the Pakistan's Inter-Service Intelligence directorate is allegedly a key player in this menace, thwarting attempts by Indian security agencies to crack down on the racket. It is always the common man who suffers. If you by chance get hold of fake currency, you will end up paying it from your pocket. It has a direct impact on us, we need to stand up aginst it.
The RBI gets to know when an entire series of currency notes has been faked. The RBI should immediately withdraw the series once such things happen. The Banks follow a process where they simply destroy the fake currency when it comes to them. They should instead lodge a police complaint and try to reach the origin of the problem. The police shall also refrain themselves from troubling the person who has reported such a problem. That should solve the problem to a great extent.
I believe the Government importing ink and paper for currency is one major issue and a weak link. Why can't we manufacture these within the country. It is also believed that the Pakistan's Inter-Service Intelligence directorate is allegedly a key player in this menace, thwarting attempts by Indian security agencies to crack down on the racket. It is always the common man who suffers. If you by chance get hold of fake currency, you will end up paying it from your pocket. It has a direct impact on us, we need to stand up aginst it.
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