Fake currency damaging India's monetary stability, says NIA

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Kolkata, Oct 31: The National Investigation Agency has stated that the cross border smuggling of fake currency has been damaging the monetary stability of India.

In a detailed chargesheet the NIA has stated that before a court in Kolkata that it has identified several players in West Bengal and Bangladesh who are smuggling fake Indian currency and circulating it.

Fake currency damaging India's stability

The NIA states that Barakat Ali who is the first accused in the case has been charged for criminal conspiracy for his involvement in a terrorist conspiracy with a gang involved in cross border smuggling of extremely High Quality Fake Indian Currency Notes across Indo-Bangladesh Border for further circulation in India, thereby damaging the monetary stability of India.

Based on a secret information on May 6 2015, 8915 high quality Fake Indian Currency Notes in the denomination of Rs. 1000/- and Rs. 500/-, having a total face value of Rs. 64,65,000, was seized within 300 mtrs of Indo Bangladesh border under Daulatpur village of Malda district in West Bengal.

The operation was carried out by the Border Security Force at the Daulatpur border post and Barakat Ali was apprehended. His two associates in the crime had managed to escape taking benefit of foliage and darkness.

Considering the huge quantity of fake notes, gravity of offence and the linkages of gang with operatives in Bangladesh, Ministry of Home Affairs, directed NIA to take up the investigation.

The NIA during its investigation has identified the members of the gang who are hailing from border areas in Bengal as well as from Bangladesh and investigation is being continued in the case to arrest them.

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