Chandni Chowk bank on regular dose of fakes

For the last three-and-a-half months a bank in Old Delhi's Chandni Chowk area has been receiving fake currency almost every week, triggering concerns that a fake currency racket is running in the area.

The Indian Bank's Chandni Chowk branch has lodged a complaint at the Lahori Gate police station, alleging that it was receiving fake currency almost every week for the last three-and-a- half months.

So far, fake currency worth Rs 8,600 has been deposited in the bank. The police said the first counterfeit note of Rs 100 was received by the bank on September 6, 2008. In the same week the bank received another fake note of Rs 1,000. Thereafter, every week fake currency of various amounts ranging from Rs 500 to Rs 1,000 started coming in. The last fake note of Rs 500 was deposited on December 29.

"We are investigating the case. So far, no arrests have been made. It may be possible that one person is running the racket," said Dr Sagar Preet Hooda, deputy commissioner of police (North).

"Regular appearance of fake currency is alarming. Terrorists use it to destabilise the economy. All the fake notes appear to have been manufactured at the same place as the quality of paper is similar," said a bank official, requesting anonymity.