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CBI officials recommended the indigenisation of the paper, on which currency notes are printed, along with the indigenisation of the printing ink and machinery involved.
CBI director Vijay Shanker expressed his concern on this issue. “Though annual fake currency seizures stand at about Rs 10 crore, it appears to be merely the tip of an iceberg,” said Shanker. “Firstly, we find a constant improvement in the quality of fake currency notes and that too in higher denominations. Secondly, we find that an increased enforcement effort in one geographical area has resulted in shifting of operations into another area. The recent shifting of operations of Dubai-based gangs from Western India to South India and shifting of trans-shipment points to Sri Lanka and Malaysia are some examples,” he added.
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