Details of the investigations being conducted by the National Investigation Agency reveal that this is the exact route that is being taken by persons involved in smuggling Fake Indian Currency Notes.
The racketeers are pushing more Rs 1,000 notes these days. There has been a drop in the number of Rs 500 notes. They consider the higher denomination better as it is fetches more money. Moreover the cost of production and smuggling remains the same irrespective of the denomination.
Focus on Andhra Pradesh
While the landing point for the fake currency has been Malda in West Bengal, there has been some concern expressed over the route it is taking into Andhra Pradesh. Over the past couple of months there have been an excessive amount of fake currency of the Rs 1,000 denomination that have been found in Andhra Pradesh.
Gangs dealing in this racket take a train to Malda. After collecting the fake currency they return to AP by car before circulating it. There have been many cases where fake currency has been deposited into nationalised banks as well. It is a two edged ploy. While some of the notes are sold at a 60:40 ratio, the others are deposited in banks in a bid to weaken the economy.
Most of these persons land in banks when it is crowded. Along with a Rs 10,000 bundle, they slip in at least 3 fake currency notes. They chose days when the banks are crowded.
In many cases due to the crowd the teller does not check the notes correctly.