The government seized fake currency notes showing a value of more than Rs 4 crore (Rs 40 million) in January-March this year while last year during such notes unearthed were of Rs 21 crore (Rs 210 million).
"(The) total value of counterfeit currency seized by law enforcement agencies and recovered through banking channels during the year 2007, 2008 and during January-March 2009 was Rs 10,54,18,925, Rs 21,45,27,797 and Rs 4,09,49,465 respectively," finance minister Pranab Mukherjee said in a written reply to the Rajya Sabha on Tuesday.
However, the minister added that the government is taking steps to curb the circulation of fake currencies in the country by stepping up vigilance by the border security force and customs authorities.
"A High Level Committee headed by the Union home secretary comprising officials from central agencies and other senior police officials has been constituted to monitor and draw up a comprehensive strategy to combat fake Indian currency notes)," Mukherjee said.
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