Fake notes of Rs 500 denomination in circulation

HYDERABAD: The state-level committee for detection of counterfeit votes of  the Crime Investigation Department felt  that fake notes of Rs 500 denomination were more in circulation as they seized fake notes worth Rs 41. 85 lakh  so far this year.  In a statement on Wednesday, M Ratan, director general (law and order) said the fake notes were mostly seized  from Hyderabad, West Godavari, East Godavari, Vijayawada and Kadapa.   A meeting of the state-level committee for detection of counterfeit notes (FICN) was convened by S V Ramana Murthy, additional director general of police,  CID, here on Wednesday.The meeting discussed the recent trends of circulation of fake currency in the state and other  parts in the country, Ratan  said “It was found that most of the fake notes were manufactured at one place and distributed to various other places through different persons.  It was also noticed that some of the notes were of high quality which are being pumped into India  through Malda district of West Bengal by air, sea and train routes,’’  he said.  The committee resolved to have better coordination among various agencies by way of sharing data to curb the menace.   Senior officials of  the Reserve Bank of India, Intelligence Bureau (IB),  officials from the Economic Offences Wing,  DIG-Counter Intelligence Cell  and Hyderabad City police attended the meeting.