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The government on Tuesday asserted that Pakistan has been 'very active' in circulating counterfeit currency notes of Rs 100 and Rs 500 denominations in India through its various diplomatic missions, especially in Nepal and East Asia.
Finance Minister Yashwant Sinha told the Rajya Sabha during question hour that the problem existed even earlier with fake currency notes of Rs ten and Rs 20 denominations being in circulation in the 1970's, and of Rs 50 denomination in the 1980's.
"We have found that since Pakistan became active, the problem has increased with the circulation of counterfeit Rs 100 and Rs 500 currency notes. These notes have been smuggled through Indo-Nepal border and the western border of the country," Sinha said.
He sought to remind the House that a Pakistani diplomat posted in Kathmandu was caught red-handed in January this year with Rs 500 denomination counterfeit Indian currency.
The matter had been taken up bilaterally with the Nepalese government and cooperation sought in curbing such practices.
Meanwhile, the government also asked the people to exchange all currency notes of Rs 500 denomination of 1987-1997 period at the Reserve Bank of India with those issued in 2000.
This was being done because currency notes of that denomination of 1987-97 period had less security features compared with those of 2000.
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