RBI flags counterfeit currency, Hyderabad police begin investigation
Hyderabad: The Reserve Bank of India (RBI) has reported the detection of counterfeit currency notes, prompting legal action. The Hyderabad police booked a case and began investigating, based on an RBI official complaint.
An RBI official filed a complaint stating that about 10 fake Indian Currency Notes (FICN) found between November 2024 and January 2025. They have detected 5 notes of Rs. 200 denomination (Total: Rs. 1,000), 5 notes of Rs. 500 denomination (Total: Rs. 2,500), and Cumulative Fake Currency Value, Rs. 3,500. The RBI has requested the authorities to forward the counterfeit notes to either Note Printing Presses or Forensic Science Laboratories for expert examination, as per sections 328(1) and 328(3) of the Criminal Procedure Code.
The Central Crime Station (CCS) of the Detective Department in Hyderabad registered the complaint on January 23, 2025. CCS sleuths registered the case under Section 179 of the Bharatiya Nyaya Sanhita (BNS), categorising it as a currency counterfeiting offence.
It is pertinent to be noted that fake currency notes pose a huge risk to the robust monetary system of India. Also, amendments were made to declare that any damage to India’s monetary stability by producing, smuggling, or circulating high-quality fake Indian currency or coins is a “terrorist” act.
