The NIA, in collaboration with Reserve Bank of India (RBI), Department of Economic Affairs and Home Ministry, will train the officers from Bangladesh which would include real time sharing of intelligence.
As there was no official information about the value or number of FICN in circulation in the Indian market, NIA had asked a Kolkata-based institute to carry out a study of the menace in 2012-13.
According to the study, FICN of face value of Rs 70,000 crore was pumped in by Pakistani spy agency ISI and underworld gangs operating from outside India. Only one-third of these could be detected by law enforcement agencies.
While the study had concluded that at any given point of time FICN of the face value of 4,000 crore was changing hands, NIA sources said the trend has been declining after Bangladesh extended cooperation.
The sources said 80 per cent of the FICN was routed to India through Bangladesh and, therefore, the need was felt to crack down on gangs engaged in the activity in that country, particularly at its airport and ports.
Bangladesh has already assured India of full cooperation in tackling the menace of FICN, which is also being used for funding human and drug trafficking, and other nefarious activities in that country.
NIA sources said Bangladesh has told India that it has put in place “stringent” measures for checking influx and circulation of fake notes that were also “adversely affecting” its economy.
FICN was being used there for financing human and drug trafficking, besides several other anti-social activities including cattle smuggling. These were seen as active threats to Bangladesh’s economy.
Sources said India will also provide note sorting machines with facility to detect fake currency at international airports, integrated crossing points, immigration points, banks and financial institutions in Bangladesh.
India has also assured Bangladesh that it will help in setting up a Forensic Science Laboratory for examining fak
PTI