Smuggling of fake notes substantially down: Venkaiah Naidu

Union Minister M. Venkaiah Naidu on Monday said smuggling of fake Indian currency has come down substantially, from nearly Rs 44 crore in 2015 to around Rs 28 crore in the current year

New Delhi: Union Minister M. Venkaiah Naidu on Monday said smuggling of fake Indian currency has come down substantially, from nearly Rs 44 crore in 2015 to around Rs 28 crore in the current year.

In a series of tweets, the Union Information and Broadcasting Minister also said that smuggling of fake notes across the India-Bangaldesh border had also fallen.

"National Crime Records Bureau (NCRB) says smuggling of fake currency was down from Rs 43.83 crore in 2015 to Rs 27.70 crore in September 2016," Naidu said.

Quoting Border Security Force data, he added: "Indo-Bangladesh border fake currency smuggling on the rise over past 8 years. Reduced from Rs 2.87 crore in 2015 to Rs 1.53 crore in 2016."

Naidu hailed the common people for their "wholehearted" support to the demonetisation of Rs 500 and Rs 1,000 notes.

"Necessity is the mother of invention, to use a clichéd adage. Game-changing role for the youth and other digitally-literate people ... can educate the illiterate and semi-literate men and women in the use of mobiles and digital platforms for money transactions," Naidu said.

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