Fake Indian Currency Note
Fake Indian Currency Note Fake Currency Counterfeit money is imitation currency produced without the legal sanction of the state or government. Producing or using counterfeit money is a form of fraud or forgery. Counterfeiting is almost as old as money itself. Fake Indian Currency Note (FICN) is a term used by officials and media to refer to counterfeit currency notes circulated in the Indian economy. In 2012, while responding to a question in parliament, the Finance Minister, P. Chidambaram , admitted that there is no confirmed estimate of fake currency in India. However, several central and state agencies are working together, and the Ministry of Home Affairs has constituted the Fake Indian Currency Notes Co-ordination Center ( FCORD ) to curb this menace. On 8 November 2016, Narendra Modi announced that the hitherto existing 500 and 1000 rupee notes cease to be legal tender. He said that the move is taken to curb black money and widesprea...