FAKE CURRENCY NOTES
Chhattisgarh Operation: Naxals escape, fake rupee notes seized
Security forces recovered a huge cache of fake currency notes, along with equipment used to print them, belonging to Maoists from Chhattisgarh's Sukma district. The operation was a joint effort by the state police and CRPF, targeting Naxalites using fake currency in Bastar region markets.
Fake Indian currency notes of Rs 100, 500 printed by naxals seized after operation in Chhattisgarh's Sukma
Officials in Chhattisgarh conducted an operation resulting in the seizure of printers, ink, and counterfeit currency allegedly used by naxals in Sukma. Video footage suggests that counterfeit notes in denominations of Rs 100 and Rs 500 were printed by the naxals and confiscated during the operation. Further details about the operation are currently awaited.
Money you paid for Gaza may be heading to Ghaziabad instead
Online scamsters are using the viral ‘All Eyes on Rafah’ campaign as an opportunity to dupe people who want to lend a helping hand or donate to victims of the war in Gaza. The most common scams related to Gaza include fake websites, fake cryptocurrency links, phishing emails, fake video links, and social media scams.
5 Cash Counting Machines for efficient cash management
Managing cash efficiently is crucial for businesses of all sizes. To streamline this process and ensure accuracy, cash counting machines have become essential tools. Explore 8 top cash counting machines that offer advanced features such as high-speed counting, counterfeit detection, and convenient batch sorting.
Madhya Pradesh man learns printing skills in jail, produces Rs 200 fake notes after getting released
A 35-year-old man from Madhya Pradesh, Bhupendra Singh Dhakat, used printing skills learned in jail to create counterfeit notes. Police seized 95 fake Rs 200 notes, printer, ink, and paper from his residence in Madhya Pradesh. Dhakat admitted to circulating the fake money, despite a criminal history that includes murder cases.
Demonetisation in cash-strapped Pakistan? State Bank of Pakistan to release new notes
Certain financial analysts are contemplating the potential integration of demonetization for higher-value notes, like the Rs 5,000, as a component of this effort to reduce the spread of counterfeit currency and tackle concerns associated with the black money market.Emphasizing the repercussions of illicit black money on Pakistan's economy, experts suggest that the circulation of larger denomination notes exacerbates the issue.
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North Koreans use fake names, scripts to land remote IT work for cash
North Korea has dispatched thousands of IT workers overseas, an effort that has accelerated in the last four years, to bring in millions to finance Pyongyang's nuclear missile programme, according to the United States, South Korea, and the United Nations.
North Koreans use fake names, scripts to land remote IT work for cash
North Korean IT workers seeking jobs abroad employ intricate strategies, including fake names, sham profiles, and counterfeit documents, to secure positions in Western tech companies, according to documents and cybersecurity researchers. The extensive subterfuge is part of North Korea's efforts to generate foreign currency, with thousands of IT workers dispatched overseas.
"Celebrate or mourn?": Adhir Chowdhury asks PM Modi as demonetisation exercise completes seven years
"Respected PM @narendramodi Ji, today is the 7th anniversary of #DEMONITIZATION touted as your visionary step for ERADICATION OF BLACK MONEY from India. Now should we celebrate the occasion or mourn for abysmal failure," Adhir Chowdhury posted on X.
Today is the last date to exchange Rs 2,000 notes: Where, how to exchange, limits, charges, documents
Deposits into bank accounts can be made normally, that is, without limits and in accordance with current directives and other relevant RBI guidelines.
Special NIA court convicts sixth accused in Bengaluru fake currency case
A woman named Vanitha has been convicted in the Bengaluru fake currency case in which high-quality counterfeit banknotes were smuggled from Bangladesh into India. She has been sentenced to six years of imprisonment for using counterfeit currency notes, five years for possessing counterfeit currency notes, and two years for criminal conspiracy.
Don't get duped! Here's how to spot fake currency note
On the reverse of the note, the denomination is spelled out in 15 different Indian languages. Genuine notes display the denomination in large Devanagri script inside a circle, and in smaller white English text at the border.
Around 91,110 pieces of fake Rs 500 notes detected in FY23: RBI report
During 2022-23, out of the total Fake Indian Currency Notes detected, 4.6% were detected at the RBI and 95.4% at other banks. The central bank reported 78,699 fake Rs 100 notes in the same year, and 27,258 fake Rs 200 notes.
Higher Rs 1,000 notes detected in FY23, fake Rs 500 notes jump: RBI annual report
Overall a total of 2.25 lakh fake notes were detected during the fiscal down from 2.30 lakh a year ago. Besides the sharp increase in the demonetised Rs 1000 notes, counterfeit notes of the newly introduced Rs 500 notes also rose sharply, increasing 14% to 91,110 pieces in 2022-23 from 79,669 pieces a year ago.
Man booked for depositing fake Rs 2,000 notes in bank in Agra
A man was booked for trying to pass on fake Rs 2,000 currency notes while depositing Rs 2.85 crore at a State Bank of India branch in Agra. An FIR was registered in the city's Rakabganj police station on Wednesday following a complaint by the bank manager.
How to identify a fake Rs 2000 note
The RBI has sent letters to banks/institutions to adhere "meticulously" to the central bank's master directive on dealing with forgeries.
Rs 2,000 currency notes: Folding or unfolding?
The interplay of the kosher and forbidden, the official and unofficial cash, will influence macroeconomics in the short term, test the efficacy of New Delhi’s crusade against black money, and reflect the state of the underbelly of the money market. Normal households, corner shops and cafés have long stopped dealing in the unwieldy currency note. The bulk of the bills, as is widely believed, are with corrupt bureaucrats, politicians, builders, their handlers and other serious characters.
How to spot a fake currency note, what to do if you get one
According to RBI guidelines, banks have to refund the customer if fake notes come out from an ATM. If you receive a counterfeit note during a personal transaction, you cannot do anything unless you have hard proof that you have been duped.
Protect Your Money: Learn how to identify fake Indian rupee notes
By following the above steps, you can easily identify fake Indian Rupee notes and prevent them from entering into circulation and protect your money as unfortunately, if you receive a counterfeit note, you will most likely not get your money back. Banks and retailers will not accept fake notes, and you cannot exchange them for genuine notes.
What to do if you get a fake note, what's the punishment for offence related to counterfeit currency?
if you receive a fake India rupee note, it's essential to stay calm, examine the note carefully, report it to the authorities, retain the note, and be prepared to lose the money. By taking these steps, you can prevent the spread of counterfeit currency and protect yourself from legal consequences.
Feeding of fake notes in coin vending machines led to launch UPI-based alternative: RBI
Earlier in the day, Governor Shaktikanta Das announced the 'QR Code based Coin Vending Machine - Pilot project'. "Unlike cash-based traditional Coin Vending Machine, the QCVM would eliminate the need for physical tendering of banknotes and their authentication," Das said, adding people can withdraw coins in required quantities and denominations.
Circulation of fake currency notes continues to pose challenge
During 2021-22, out of the total FICN detected in the banking sector, 6.9 per cent was detected at the Reserve Bank and 93.1 per cent at other banks, the RBI report said. One of the major objectives of the 2016 demonetisation of the then prevailing Rs 500 and Rs 1,000 notes was to curb circulation of fake currency notes.
Where are the Rs 2,000 notes gone? This RTI reply can give you the answer
As per an RTI reply received from the Bharatiya Reserve Bank Note Mudran, which works under the RBI, '0' number of 2,000 denomination currency notes were printed in 2019-20, 2020-21 and 2021-22. The RTI reply also indicated that the number of Rs 2,000 notes in circulation has gone down drastically.
Recovery of fake notes shows a spike of 1342%
There has been an increase of around 1342% in the seizure of fake Indian currency notes (FICN) in Delhi on an annual basis, National Crime Records Bureau (NCRB) data shows As per NCRB data, while 3,476 fake notes amounting to Rs 4.16 lakh were seized in 2020, a total of 50,151 FICNs amounting to Rs 2.05 crore were recovered in 2021.
Bengal reports highest number of fake notes cases
Assam was at the second spot, reporting 75 cases, while Tamil Nadu was at the third spot with 62 cases. Among other states, Maharashtra reported 55 cases, Rajasthan reported 54 cases and Uttar Pradesh reported 42 cases, according to the report.
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