The total value of fake notes seized in the country rose by over three-and-a-half times – from Rs 25.39 crore in 2019 to Rs 92.17 crore in 2020 – the Centre told Parliament on Tuesday.

In terms of volume, 2,87,404 pieces of counterfeit notes were seized in 2019, but the number increased substantially to 8,34,947 pieces in 2020.

Union Minister of State for Finance Pankaj Chaudhary gave the data in the Rajya Sabha in response to a question by Congress MPs KC Venugopal and Amee Yajnik, and Shiv Sena’s Sanjay Raut.

Source: Rajya Sabha website

Chaudhary told the Rajya Sabha that 2,81,839 pieces of fake notes valuing Rs 15.92 crore were seized in 2016, 3,55,994 pieces valuing Rs 28.10 crore in 2017 and 2,57,243 pieces worth Rs 17.95 crore was seized in 2018.

The minister further informed that the Ministry of Home Home Affairs has formed the Fake Indian Currency Notes Coordination Group, or FCORD, to share intelligence inputs among the various security agencies of states and the Centre to counter the problem of circulation of fake currency notes in the country.

“Government also conducts capacity building programmes for various law enforcement agencies at Centre-state level,” Chaudhary said. “In addition, training programmes are conducted for the police officials of Nepal and Bangladesh to sensitise them about smuggling/counterfeiting of Indian currency.”