For every single fake currency note we the ordinary people of country are being cheated against our hard work which we perform daily to earn bread for our children. Every third day we see various states reporting huge seizures of fake Indian currency notes on our television screens.
This business runs parallel to our economy and directly affects us and what is more important to think is how it affects the national security. Most terrorist attack weapons deals include heavy amounts of fake currency. During some years there has been a lot of public outcry for the presence of fake currency in the country. Fake currency is no doubt present in many countries but it has gripped India badly in recent times.
The role of our neighbor country’s intelligence in printing and circulation of false currency has never been a secret, Indian agencies found that the it had been importing currency-standard printing paper and ink to their country from companies located in UK, Sweden and Switzerland to pursue its evil operations.
Is this our poor technology that allows the fakers to copy easily our country? Why it is hard to copy currency like of Australia, America, UK, is that they have superior technology. Surprised yes faking national currency has a direct co-relation with the national threat. Nothing can be executed without the support and indulgence of our own people I am not very sure about our leader’s awareness and action about the issue. Does government takes the responsibility? The answer is as usual “Trying their best”. It’s not about faking country it’s a shame for us that for some money we are staking our national security and letting down morale and hard earned money of fellow country men who are managing their livelihood with lots of difficulties.
Swami Ramdev in his recent appearance in Rajat Sharma’s ‘Janta ki Adalat’ gave suggestion to remove INR 100, 500 and 1000 currency notes from the circulation by RBI as it creates an ease in the execution of rackets of fake currency notes. Though my wallet will become fatter which currently holds a single leaf of 1000 will have to carry 20 pieces of value 50. For the ATM machines at the banks it may also become a burden with the smaller denomination notes. But who need these big bills now, everyone should use to credit/debit cards and other online transactions with internet banking with some more hack proof security. The best part will be that it will become cumbersome for the fakers to manage with smaller currency notes.
Over to you…
Mood: 
Cheated
Fake notes is a very big racket now and it could not be sustained without an official patronage. Apart from our neighbor country’s intelligence our own politicians are involved in this racket. It is a big 40:60 racket. Fake notes of 1 lak are available for just (genuine) 40k. So you can just work out the profit margins here. Ever wondered why our leaders who come in rags from their constituencies to Delhi go back bigger and fatter after 5 years! And our revenue intelligence, the police turn a blind eye because of big name involvement here. Imagine an entire chest of the SBI was replaced by fake notes in Gorakhpur. Can petty criminals do this?
One reason why in this tech age credit card usage is highly taxed. Because our mai-baap knows if CC becomes norm of the day.. their big business will get flopped.
Yes true, Its pain to see that some times we discuss lots of problems but unable to see a solution. I vote for Ramdev’s take on the problem.
What Ramdev says can be a short term solution but not a permanent solution. How long will it take to produce the fake notes of 50s and smaller denomination. In today’s age usage of paper money has to be curtailed. Electronic money usage has to be encouraged. Criminal justice system needs to be tightened and some big names have to be put behind the bars.
Agreed up to some extent 😐 In our country the big users of this money lives in rural areas which are not connected till date.
Smaller denomination currency bills will not only consume their more resources while printing be it paper or ink but also they will have to create warehouses to dump it.
Transporation of this money will too be a problem as it will be more visible.
PS: Dr. Manmohan Singh long back whilst serving as Governor of Reserve Bank of India suggested the same solution.
I fail to understand understand what are the executional challenges…
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