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India watches border for fake currency

NEW DELHI, June 13 (UPI) -- India has heightened surveillance on its eastern border with Bangladesh amid reports of circulation of fake Indian currency notes.

The intelligence agencies said a strict surveillance on the Indian-Bangladeshi border has paid rich dividends as the security forces recently seized fake Indian currency notes worth over 3.8 million rupees.

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Officials of the Directorate of Revenue Intelligence arrested a young couple from Dhaka, claiming to be husband and wife, with a consignment of 3.8 million of counterfeit money in eastern Kolkata city, said a DRI official.

He said the latest seizure presents a very disturbing picture as an investigation in earlier cases revealed the Pakistani spy agency Inter State Intelligence had been using jihadi cells to pump fake notes into India.

The move is aimed at destroying Indian economy. The counterfeit currency is also used for funding terror activities in India, The Times of India newspaper reported Friday.

Between Nov. 13 and 18, 2007, the DRI busted three jihadi cells in Kolkata, Mumbai and Jodhpur with a huge quantity of fake Indian currency, each seizure more than 2.5 million fake Indian currency notes.

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The official said past cases had revealed all the notes were of fine quality using the same ink that was used in Reserve Bank of India currency notes. In all the cases the seized notes were of 500 and 1,000 rupees denomination.

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