The government seems to have risen to the threat of parallel economy by means of fake currency notes. The central Government has decided to introduce 1 billion pieces of polymer banknotes in Rs. 10/- denomination on trial basis. According to information was given by Minister of State for Finance, Shri Namo Narain Meena in written reply to a question raised in Lok Sabha today, Reserve Bank of India has initiated the process of purchase of polymer notes on trial basis. Polymer notes are being introduced in Rs. 10/- denomination, where the incidence of counterfeiting is negligible. However, the reason attributed by the minister is to increase the life of bank notes.
According to Crime in Maharashtra 2008, the annual report of crimes in the state which is prepared by Criminal Investigation Department (CID), that the cases of counterfeiting of coins and currency notes in the state has increased by a whopping 50 per cent in 2008. The number of fake currency cases registered in 2007 was 270. In 2008, the number has gone up to 405.
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According to Crime in Maharashtra 2008, the annual report of crimes in the state which is prepared by Criminal Investigation Department (CID), that the cases of counterfeiting of coins and currency notes in the state has increased by a whopping 50 per cent in 2008. The number of fake currency cases registered in 2007 was 270. In 2008, the number has gone up to 405.
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