Dawood gang speaks of faking the Rs 100 note now

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Is the Dawood Ibrahim syndicate now looking to fake the Rs 100 note? With the ban being announced on the Rs 500 and 1,000 note, his industry has taken a major hit and Intelligence Bureau officials estimate the loss at Rs 5,000 crore.

[Also Read: Currency exchange - Confusion hits both customers and bank staff]

Latest on the chatter picked up by the Intelligence Bureau is members of the D gang discussing the ban and also on how to get their business running. The men were heard even discussing ways to go about faking the Rs 100 note which is still in circulation.

Dawood gang speaks of faking the Rs 100 note now

Intelligence Bureau officials say that there is every possibility of fake Rs 100 notes coming into the market. However the business is not likely to flourish for long as the margins will be extremely low. Earlier the margins were higher. Moreover the cost of producing a Rs 500, Rs 1,000 or 100 note is the same. Hence it may not be a flourishing business and over a period of time, the gang is likely to drop the idea, the officer also notes.

[Also Read: Rs 500, 2,000 - All you need to know about the new high security note]

For four fake currency notes, the gang would get one original one. The business would work on a 4:1 ratio. When the Rs 1,000 note was faked by the D Gang, their business began to thrive. Moreover they had replicated it to perfection and it had become hard to tell the real from the fake.

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