Centre issues alert over high-quality fake Rs 500 notes; Highlights key identifier
New Delhi: The Ministry of Home Affairs (MHA) has issued a high-priority alert to financial regulatory bodies, enforcement agencies, and banks dealing in cash, following intelligence reports of “high-quality” counterfeit Rs 500 notes entering circulation.
The alert, as cited by The New Indian Express, highlights a key identifier between the fake and genuine notes— a subtle spelling error in the fake currency. Instead of “RESERVE BANK OF INDIA,” the counterfeit notes bear the misspelled phrase “RSERVE BANK OF INDIA”.
Despite the near-perfect resemblance in print quality and design to genuine notes, this minor typographical flaw is being described by officials as “very subtle” and potentially easy to overlook. Institutions that handle large volumes of currency — such as banks, the Directorate of Revenue Intelligence (DRI), Financial Intelligence Unit (FIU), Central Bureau of Investigation (CBI), National Investigation Agency (NIA), and the Securities and Exchange Board of India (SEBI) — have been put on high alert.
Institutions handling currency have been asked to remain on high alert, as intelligence reports suggest that counterfeit notes may have already entered circulation, TNIE quoted officials as saying. They added that an image of the suspected counterfeit currency has also been circulated to aid identification.
The government has urged the general public to remain vigilant and report any suspicious currency to authorities immediately.
When asked about the possible volume of counterfeit notes that may have entered the Indian market, a senior investigative official noted that no agency can accurately assess the figure, as data is compiled from diverse sources, including notes submitted by citizens to banks. However, he added, the actual number may far exceed reported statistics.
In a recent response in Parliament, the government outlined the steps taken to combat the spread of fake currency. These include stringent legal provisions under the Bharatiya Nyaya Sanhita, 2023 (BNS) and the Unlawful Activities (Prevention) Act, 1967, as well as the formation of the National Investigation Agency (NIA), the FICN Coordination Group (FCORD), and the Terror Funding and Fake Currency (TFFC) Cell.
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Davangere South bypoll: Congress ahead by narrow lead after 14th round
Davangere: The Congress candidate is leading in the Davangere South Assembly by-election after the completion of the 14th round of counting.
According to the latest figures, the Congress has secured 46,460 votes, while the BJP stands at 39,037 votes, trailing by 7,423 votes.
The SDPI candidate has polled 15,303 votes so far.
Counting is still underway, and final results are awaited.
