New Delhi, December 15: Government today admitted that the problem of fake currency was “alarming and dangerous” as some groups are trying to destabilise the Indian economy by injecting massive doses of counterfeit notes in the country.
“There are two kinds of groups, one is of individuals working for profits, but much more dangerous is the effort of injecting massive doses of fake notes in the country, trying to destabilise the economy,” Finance Minister Pranab Mukherjee said in Rajya Sabha.
In his written statement, Mukherjee also admitted that the security breaches of the notes were last updated in 2005 while a committee has been set up in this regard.
“The situation is alarming,” he said answering supplementaries during Question Hour.
But, it would take another two years before upgraded security features are included in the currency notes, the minister said.
He said it would be difficult to quantify counterfeit currency in circulation.
–Agencies