Fake currency smuggling has completely stopped after demonetisation: Rijiju
Fake Indian currency notes (FICN) worth around Rs 400 crore are in circulation in the country at any given point of time and smuggling of such notes from Pakistan, Bangladesh and Nepal has completely stopped after the demonetisation announcement, Union minister Kiren Rijiju said on Friday.
“Smuggling of FICN from three international borders - Pakistan, Bangladesh and Nepal - has completely halted after the announcement of Prime Minister Narendra Modi,” he told reporters here.
The minister of state for home said at any given point of time, fake notes valued around Rs 400 crore are in circulation in the country.
He said annually counterfeit notes worth Rs 70 crore are infused in the country.
Proceeds of illegal sale of drugs, opium, arms etc have also been completely stopped, Rijiju said, adding hawala transaction is also badly hit.