Flow of fake Indian currency notes from across the borders completely stopped: Kiren Rijiju

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NEW DELHI: The flow of fake Indian currency notes (FICN) from crossaways the border with Pakistan, Bangladesh and Nepal has totally halted after the demonetisation declaration, Union minister of state for home Kiren Rijiju said on Friday.

This denote a major change as fake Indian coin notes with an expected face estimation of Rs 70 crore is pumped into India consistently and Rs 400 crore of such notes is known to be available for use in the nation at any given time, he included.

 "Carrying of fake Indian money notes from three worldwide outskirts – Pakistan, Bangladesh and Nepal – has totally ended after the night of November 8 (when Prime Minister Narendra Modi declared demonetisation of Rs 500 and Rs 1,000 notes)," Rijiju told columnists here.

 As per him, knowledge reports achieving the administration demonstrated that the returns from unlawful offer of medications, opium, arms and so on have likewise been totally failed out, with hawala exchanges being the most exceedingly awful hit.

"We are investigating any abuse of fake Indian cash pumped into India before the demonetisation step was reported," said the MoS. Fake Indian cash conveying a face estimation of Rs 12.35 crore was seized by the security offices till June this year. In 2015, fake note seizures totalled Rs 34.99 crore (confront esteem), while in 2014, this figure was Rs 36.11 crore.

 In 2013, the face estimation of such seizures was Rs 42.90 crore. Insight inputs evaluate the fear subsidizing in India to be in the scope of Rs 700 crore to 800 crore, of which Rs 300-350 crore is utilized by Left-wing fanatics, Rs 20 crore to Rs 30 crore by Kashmiri separatists and Rs 350 crore to Rs 400 crore by agitators in the upper east.