India is facing a severe economic war being against it by Pakistan using fake currency notes. According to official estimates, around 1,98,000 fake notes worth Rs 2,000 crore are in flow in India. The fake notes could be of any denomination - 100, 500 or 1000.
The Reserve Bank of India has issued an advice to all banks, saying that notes starting with serial no 2 AQ & 8 AC are suspect.
The Mumbai Anti-Terrorism Squad has seized 345 fake 1000-rupee notes starting with the numbers 2 AQ and 8 AC.
The RBI has confessed that fraudsters have access to single security quality such as Optically Variable Ink and Colour Shift Security Thread. These are being used to print the fake notes.
The RBI has alert banks to use note sorting machines or CVPS machines to spot the fake notes.
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