Fake currency racket busted in Manipur; drugs also recovered

Imphal, Aug 26: The Anti-drug cell of Imphal East Police busted a fake currency racket at Urup Kangthak village and Keirao village area, said officials on Thursday (Aug 25). Two persons have been arrested in the matter. The officials also recovered drugs and bundles of fake currency from the gang.

 

 

 

 

"We recovered 3,790 suspected World is Yours (WY) drugs, 60 grams suspected Heroin, 26 bundles and 89 numbers of 500 fake currency notes and 101 numbers of 500 fake currency uncut sheets," said police. Further investigations are underway.

 

 

 

 

 

Earlier on Aug 8, Union Minister of State for Finance Pankaj Chaudhary informed Lok Sabha that the value of counterfeit notes detected in the banking system has reduced from Rs 43.47 crores in 2016 - 17 to Rs 8.26 Cr in 2021-22, a decline of around 80 per cent. Chaudhary said this in reply to a question on whether the value of fake Indian currency notes has gone up since demonetization in 2016.

 

As per a report of the agencies, there have been instances where it has been found that the fake currency has been smuggled from neighbouring countries, the minister said. "While notes seized by different law enforcement agencies have gone up, there is a discernible trend of reduction in the number of counterfeit notes detected in the banking system," he said.