Lucknow , Oct 1 The Uttar Pradesh government is likely to invoke National Security Act against Girijesh Yadav arrested with Fake Indian Currency Notes from Mainpuri district yesterday.
"A recommendation to invoke NSA on Yadav has been recommended. He will soon be booked under the act," Additional Director General, Law and Order AK Jain told reporters here today.
An ATS team yesterday recovered FICN worth Rs 17 lakh following a tip off from Mainpuri with equipments, including a colour printer, ink bottles and paper cutter.
Yadav, during interrogation confessed his involvement in printing FICN and told the ATS team that his brother used to circulate these notes in Mumbai.
Banks prepared to check fake currency menace: RBI
Banks are fully geared to check the menace caused by fake currency, a senior official of the Reserve Bank of India said.
Reserve Bank of India Regional Director J Sadakkadulla said a high-level committee headed by RBI Deputy Governor Usha Thorat had recommended installing of note sorting machines (NSMs) in all bank branches in a phased manner and has asked the banks to give a road map to the RBI to achieve this task.
He said the number of fake notes in India was just eight pieces per million which is one of the lowest in the world. "The total circulation of the currency in India is 48 billion pieces and the fake currency merely 0.0008 per cent of that," he added.
"The market price of the note-sorting machine is Rs 10 lakh and will decrease in the near future,' said Sadakkadulla.
He said earlier, it was only the currency chest of the banks which were required to install note sorting machines. "But now each branch of the bank will have to go for note-sorting machines," he asserted.
At present, only about 4,000 currency chests have these machines and about 70,000 bank branches that are present all over the country require them.
Banks are fully geared to check the menace caused by fake currency, a senior official of the Reserve Bank of India said.
Reserve Bank of India Regional Director J Sadakkadulla said a high-level committee headed by RBI Deputy Governor Usha Thorat had recommended installing of note sorting machines (NSMs) in all bank branches in a phased manner and has asked the banks to give a road map to the RBI to achieve this task.
He said the number of fake notes in India was just eight pieces per million which is one of the lowest in the world. "The total circulation of the currency in India is 48 billion pieces and the fake currency merely 0.0008 per cent of that," he added.
"The market price of the note-sorting machine is Rs 10 lakh and will decrease in the near future,' said Sadakkadulla.
He said earlier, it was only the currency chest of the banks which were required to install note sorting machines. "But now each branch of the bank will have to go for note-sorting machines," he asserted.
At present, only about 4,000 currency chests have these machines and about 70,000 bank branches that are present all over the country require them.
Rs.20 lakh in fake currency recovered in Uttar Pradesh
2009-09-30 19:50:00
The Anti Terrorist Squad (ATS) of the Uttar Pradesh police Wednesday recovered fake Indian currency notes of more than Rs.20 lakh (two million) from a hideout in the Mainpuri district, police informed.
The recovery was made following the interrogation of one Girijesh Yadav, who was arrested with fake currency worth Rs.5 lakh from Manaknagar locality of Lucknow Tuesday.
Yadav was arrested on a tip-off by one of his accomplices, Arif, arrested earlier last week. The intelligence about Arif was provided by the Mumbai police.
The duo were engaged in circulating counterfeit currency for quite a long time and used to travel between Mumbai and Lucknow frequently, the police said.
During interrogation, Yadav also made some important revelations.
'Yadav used to supply fake currency to many gangs in Mumbai, Delhi and Uttar Pradesh. It has been found that the fake currency supplied to Mumbai was used for 'hawala' transactions. It was also utilised to make payments to big builders on the instructions of D company (Dawood Ibrahim gang) and others', Additional Director General of Police (ATS) A.K. Jain told reporters.
'They started this business in Mumbai and slowly began supplying fake currency in many districts of the state, including Lucknow,' Jain added.
They used to manufacture the notes in Mainpuri as it is a small district and they could easily function without the police noticing it, he said.
In a similar catch, three people were arrested in Etawah district Monday and fake currency of Rs.850,000 recovered from them.
However, police said there was no connection between the two gangs, as those arrested in Etawah used to manufacture the notes with the help of computer, scanner and colour printer and circulated them in rural parts of adjoining districts.
2009-09-30 19:50:00
The Anti Terrorist Squad (ATS) of the Uttar Pradesh police Wednesday recovered fake Indian currency notes of more than Rs.20 lakh (two million) from a hideout in the Mainpuri district, police informed.
The recovery was made following the interrogation of one Girijesh Yadav, who was arrested with fake currency worth Rs.5 lakh from Manaknagar locality of Lucknow Tuesday.
Yadav was arrested on a tip-off by one of his accomplices, Arif, arrested earlier last week. The intelligence about Arif was provided by the Mumbai police.
The duo were engaged in circulating counterfeit currency for quite a long time and used to travel between Mumbai and Lucknow frequently, the police said.
During interrogation, Yadav also made some important revelations.
'Yadav used to supply fake currency to many gangs in Mumbai, Delhi and Uttar Pradesh. It has been found that the fake currency supplied to Mumbai was used for 'hawala' transactions. It was also utilised to make payments to big builders on the instructions of D company (Dawood Ibrahim gang) and others', Additional Director General of Police (ATS) A.K. Jain told reporters.
'They started this business in Mumbai and slowly began supplying fake currency in many districts of the state, including Lucknow,' Jain added.
They used to manufacture the notes in Mainpuri as it is a small district and they could easily function without the police noticing it, he said.
In a similar catch, three people were arrested in Etawah district Monday and fake currency of Rs.850,000 recovered from them.
However, police said there was no connection between the two gangs, as those arrested in Etawah used to manufacture the notes with the help of computer, scanner and colour printer and circulated them in rural parts of adjoining districts.
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