Why in the News?

• The Directorate of Revenue Intelligence (DRI) arrested seven modules involved in printing Fake Indian Currency Notes (FICN).

Key Points:

About the issue:

=> Continuing its crackdown against modules involved in printing Fake Indian Currency Notes (FICN) and import of security papers, the Directorate of Revenue Intelligence (DRI) conducted simultaneous searches at 11 locations in Maharashtra, Haryana, Telangana, Tamil Nadu and Bihar .

=> In this operation, seven modules active in printing FICN were arrested.

=> Earlier also on February 8, 2025, the DRI had arrested two persons in Ghazipur and Bengaluru who were found to be importers of papers with embedded security thread bearing the words 'RBI' and 'India' ('Security Papers').

=> The team seized fake currency notes of Rs 50 and Rs 100 denominations and several machinery/equipment.

Impact:

• Damage to the economy
  • ?The circulation of counterfeit currency could lead to inflation and economic instability .
  • Mixing of real and fake currency can cause chaos in the banking system .
• Escalation of crime
  • Fake notes are used for black money and illegal activities, which may lead to an increase in terrorist activities.
  • The trade of fake notes is linked to cross-border smuggling and other illegal activities

Directorate of Revenue Intelligence:

=> It is India's premier anti-smuggling intelligence, investigation, and operations agency.

=> Apart from this, this agency works to stop the smuggling of goods including drugs, gold, diamonds, electronics, foreign currency, and counterfeit Indian currency.

=> The Directorate of Revenue Intelligence functions under the Central Board of Indirect Taxes and Customs in the Department of Revenue, Ministry of Finance , Government of India.