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Demonetisation: Fake currency smuggling has decreased, says M V Naidu

by IBNS 05 Dec 2016, 07:22 am

New Delhi, Dec 5 (IBNS): Union Urban Development Minister M Venkaiah Naidu said on Monday that the move to demonetise higher currency notes have affected the smuggling of fake currency notes in India.

Citing data, the lawmaker said that while smuggling of counterfeit notes have dropped from Rs 2.87 Cr in 2015 to Rs 1.53 alongside Indo-Bangladesh border, nationwide the figure stands at Rs 43.83 Crore in 2015 to Rs 27.70 Crore in Sept 2016.

"Indo-Bangladesh border- fake currency smuggling on the rise over past 8 yrs. Reduced from Rs 2.87 Cr in 2015 to Rs 1.53 Cr in 2016 -BSF Data," he tweeted.

"National Crime Records Bureau(NCRB) says, smuggling of fake currency was down from Rs 43.83 Crore in 2015 to Rs 27.70 Crore in Sept 2016," a second tweet read.

Naidu, who's also the Information and Broadcasting Minister, urged the youth and other digitally literate people to help the others learn about digital transaction.

"Necessity is the mother of invention, to use a clichéd adage. Game-changing role for the youth and other digitally literate people can educate the illiterate and semi-literate men and women in the use of mobiles and digital platforms for money transactions," he tweeted.

Naidu also thanked the people of India for making the move a success.

"Literate or illiterate,rich or poor,rural or urban dwellers,lending their wholehearted support 2 PM's drive against black money & corruption. One should salute the common Indian for bearing this temporary inconvenience with fortitude and patience," his tweet read.