The sharp rise in the menace of fake currency notes and various crimes under Indian Penal Code (IPC) and Special and Local Laws (SLL) demands a fresh approach in tackling them effectively. The latest National Crime Records Bureau (NCRB) report for 2017 gives a clear indication that the menace of the fake currency notes continued even after demonetization and issuance of new notes claimed to be too difficult to be counterfeited, and the overall rate of crime situation deteriorated.
It is a matter of great concern that new notes were issued in November 2016, supposedly to fight terror financing through counterfeit notes, however, the year 2017 witnessed crores of fake notes under circulation, out of which a total of 3,55,994 notes worth Rs.28,10,19,294 were seized during 2017. Moreover, among the UTs Delhi and among the states Gujarat, topped the seizure list. It clearly indicates the failure of one of the purpose of issuing new notes.