Fake Indian currency notes (FICN) worth around Rs 400 crore are in circulation in the country at any given point of time and smuggling of such notes from Pakistan, Bangladesh and Nepal has completely stopped after the demonetization announcement, Union minister Kiren Rijiju said on Friday. The Minister of State for Home said at any given point of time, fake notes valued around Rs 400 crore are in circulation in the country. He said annually counterfeit notes worth Rs 70 crore are infused in the country. Fake notes worth Rs 12.35 crore were seized by the security agencies till June. In 2015, counterfeit notes worth Rs 34.99 crore were seized while in 2014, the value was Rs 36.11 crore and in 2013 it was Rs 42.90 crore.

Source: dna November 18, 2016 15:33 UTC