Improvements in Currency Printing Presses

The Ministry of Home Affairs (MHA) has informed that to address the multi-dimensional aspects of the Fake Indian Currency Notes (FICN) menace, several agencies such as the RBI, Ministry of Finance, Ministry of Home Affairs, Security and Intelligence Agencies of the Centre and States, Central Bureau of Investigation (CBI) etc., are working in tandem, to thwart the illegal activities related to FICNs. The work of these agencies is periodically reviewed by a nodal group set up for this purpose. Further, one special FICN Coordination (FCORD) Group has been formed in the Ministry of Home Affairs to share the intelligence/information amongst the different security agencies of State/Centre to counter the menace of circulation of Fake currency notes in the country. National Investigation Agency (NIA) has been empowered by NIA Act to investigate and prosecute offences relating to FICN. The Government has also constituted a Terror Funding and Fake Currency Cell (TFFC) in NIA to focus investigation on Terror Funding and Fake Currency cases. MHA has further informed that the legal regime has been further strengthened by way of recent amendments in the Unlawful Activities (Prevention) Act, 1967 wherein the damage to the monetary stability of India by way of production or smuggling or circulation of High Quality Fake Indian Paper Currency, coin or any other material has been declared as ‘terrorist act’.

Up gradation and procurement of printing lines to bring improvement in the printing is a continuous and ongoing process and is done in accordance with extant guidelines and procedures depending on the requirement and necessity for same.

This was stated by Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Rajya Sabha today..

DSM/RS/rs

(Release ID :93506)