Fake Indian currency note
Fake Indian Currency Note (FICN) is a term used by officials and media to refer to
weasel words
]
On 8 November 2016, Indian Prime Minister
₹500 and ₹2000 notes, and discontinued the existing ₹1000 note
.
Background
Although
Indian government, with suggestions that the highest quality fakes could have only been produced by a nation state.[3][1]
Legal aspect
According to
Indian law, possessing fake notes is a punishable offence, but only if the person in question is aware that the notes are fake.[4] The Indian government intends to classify offences involving high-value FICN as terror acts, with an amendment to the Unlawful Activities (Prevention) Act.[5]
Terrorism
Fake Indian notes are mainly used in terror related activities. The money mainly flows from Nepal,[6][7] Pakistan[8] and Bangladesh.[9][10] The terrorists are using it to cripple the Indian economy and to create economic terror.[11]
See also
References
- ^ ISSN 0971-751X. Retrieved 13 March 2023.
- ^ a b "RBI plans to gradually replace Rs 10 bank notes with coins". www.thehindubusinessline.com. 23 November 2012. Retrieved 13 March 2023.
- ^ "Pakistan officially printing fake Indian currency notes", 6 November 2013, http://indiatoday.intoday.in/
- ^ "Economy, Inflation, Micro Economy, Macro Economy, Government, Policy". www.thehindubusinessline.com. Retrieved 13 March 2023.
- ^ "Counterfeiting to be made a terrorist crime". DNA India. Retrieved 13 March 2023.
- ^ "Rs 10 mn fake Indian currency seized in Nepal | India". Hindustan Times. 8 April 2016. Retrieved 20 November 2016.
- ^ "NIA busts Nepal-linked FICN racket; arrests kingpin from Delhi : PTI feed, News - India Today". Indiatoday.intoday.in. 25 October 2016. Retrieved 20 November 2016.
- ^ "Pakistan, the biggest contributor of fake Rs 500, Rs 1000 notes; PM Narendra Modi's historic move justified - The Economic Times". Economictimes.indiatimes.com. 10 November 2016. Retrieved 20 November 2016.
- ^ "Ban on Rs 500-Rs 1000 notes: Big blow to FICN racketeers of India-Bangladesh border". bdnews24.com. 14 November 2016. Retrieved 20 November 2016.
- ^ "Demonetisation hits fake currency trade through Indo-Bangla border". The Indian Express. 11 November 2016. Retrieved 20 November 2016.
- ^ "Economic terror forced Modi to abolish Rs 1,000 notes | Business Standard News". Business-standard.com. Retrieved 20 November 2016.