"Fake currency movement has completely stopped"

He said that there is no movement of fake notes along the India, Pakistan and Bangladesh borders after the decision to declare currency of Rs 500 and 1,000 had been announced.

New Delhi, Nov 18: The movement of fake currency has completely stopped along the border areas, India's junior minister for home Kiren Rijiju said today.

He said that there is no movement of fake notes along the India, Pakistan and Bangladesh borders after the decision to declare currency of Rs 500 and 1,000 had been announced.

Since the decision of demonetisation had been taken, there has a complete lull in the activities of the fake currency mafia. Several 1,000 crores of fake currency had been rendered useless in one stroke following this decision made by Prime Minister Narendra Modi on November 8.

Pakistan the perpetrator of this menace has been finding it difficult to cope with the decision says an intelligence bureau official. As on November 8 there were over Rs 5,000 crore worth fake currency in the market. With one announcement all those notes were rendered useless.

The Pakistanis had managed to replicate the Rs 500 and 1,000 notes with ease. They had started importing the paper for the notes from the same places which India did.

Moreover the security features in the older notes were not too difficult to replicate and the Pakistanis managed to do a thorough job with it.

The fake notes that were in circulation in India were so accurate that it had become impossible to tell between the genuine and the fake. It was a menace that was becoming increasingly difficult to curb and was threatening to break down the Indian economy.

OneIndia News