DRI conducts raids at Chennai airport to check counterfeit currency

By: |
New Delhi | Updated: March 20, 2017 10:36:41 AM

Directorate of Revenue Intelligence is conducting raids at the Chennai airport to check counterfeit currency smuggling.

Directorate of Revenue Intelligence, DRI, chennai aiport raids, raid at chennai airport, dri rait in chennai, dri at chennai airport, raid at chennai airport, raid in chennaiDRI has conducted raids at Chennai airport to counterfeit fake currency. (Source: PTI)

Directorate of Revenue Intelligence is conducting raids at the Chennai airport to check counterfeit currency smuggling. These raids are being conducted since Friday morning, according to the TV reports. This step has been taken to stop the inflow of fake currency into the country through Chennai. Dealing with fake currency has been a major issue for the Indian government over the years. In 2012, the then Finance Minister P Chidambaram said there is no estimate of fake currency in India. he went on record to say this in the Parliament.

READ | PM Modi and Akhilesh show that in a game of men, there is no place for boys like Arvind Kejriwal

The Ministry of Home Affairs even constituted the Fake Indian Currency Notes Co-ordination Center (FCORD) to curb this menace which works with many other central and state agencies in the country. The new government led by Prime Minister Narendra Modi has taken up this matter far more seriously and to deal with it, announced that the hitherto existing 500 and 1000 rupee notes cease to be legal tender. PM Modi believed that this step can help India curb black money and widespread counterfeit currency in the country.

You may also want to watch:

After this announcement, new Rs 500 and Rs 2000 notes were introduced which the government said are very hard to copy. However, even after that, there were many cases of new fake currency being circulated within the country.In Chennai itself the Income Tax Department busted a money laundering racket and seized Rs. 120 crore in demonetised notes, new currency and gold. The IT department then arrested three associates – Sekhar Reddy, Srinivasa Reddy and Prem who were involved in these transactions.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Tripura government failed to utilise central funds: Union Agriculture Minister Radha Mohan Singh
2Gujarat woman rescued from Riyadh arrives home
3Yogi Adityanath sworn in as UP CM; PM Narendra Modi stresses development