1. In yet another demonetisation blow to Narendra Modi govt, BSF arrests man in Malda carrying Rs 96,000 in fake currency notes

In yet another demonetisation blow to Narendra Modi govt, BSF arrests man in Malda carrying Rs 96,000 in fake currency notes

Border Security Force (BSF) has revealed that its men have arrested a resident of Nadia district with Rs 96,000 in duplicate notes.

By: | New Delhi | Published: February 20, 2017 12:02 PM
Demonetisation, Narendra Modi government, PM Narendra Modi, Narendra modi, man in Malda, fake currency notes, BSF, Malda, PM Narendra Modi Photo for representational purpose. (Reuters)

In yet another instance of demonetisation drive not being able to prevent or control the inflow of fake currency in the new denominations that were introduced in the wake of PM Narendra Modi’s note ban order on November 8, 2016, the Border Security Force (BSF) has revealed that its men have arrested a resident of Nadia district with Rs 96,000 in duplicate notes. These were in the form of Rs 2000 denomination notes and the arrest was in in Malda’s Baisnabnagar. Analysts and political opposition had highlighted their concerns that the scrapping of the Rs 1000 and Rs 500 notes were all very well to fight generation of fake currency and black money, but the printing of the Rs 2000 note is likely to increase, rather than decrease due to the availability of this high denomination note. However, the government has said that the new notes, both Rs 2000 and Rs 500 are quite secure as they carry a number of new high-security features. Nevertheless, the increasing number of people being caught with fake currency also shows that wrongdoers are not being deterred from indulging in printing illegal currency. These fake notes are originating from Pakistan and that country has been pushing fake currency for decades now in an effort to foment terror and other extremist related activities in India.

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While the new notes are safe enough, as no one can copy all the features present in them, yet, they do manage to include enough features to make the cash look almost like the original. The one thing that is most difficult, if not impossible to replicate/duplicate are the RBI lettering (very small), but since these are not visible to the naked eye, the common man on the street will not be even looking for them far less be able to distinguish them.

Narendra Modi’s demonetisation move has received criticization from a lot of people ever since its implementation on November 8, 2016. Many cases of fake note currency have also surfaced in the last two months. Earlier in the week, NCP chief Sharad Pawar slammed the NDA Government for its demonetisation step. In an interview, he said that the move affected every sector and small businesses in the country. Stressing further on the issue he added that after Rs 500 and Rs 1,000 were banned by the Centre, not only employment had also come come down after the step but villages were affected.

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