Kerala has become a conduit point from where fake notes are being distributed to neighbouring states.
Kochi and Kozhikode were the major centres for distribution of these notes till recently. However, since there is greater awareness of fake notes in Kerala at present, the rackets are spreading it out in neighbouring states. The fake notes now being distributed are mainly in Rs 1,000 denomination.
A report submitted to the government by the Intelligence Bureau, Research and Analysis Wing, Directorate of Revenue Intelligence and the Central Bureau of Investigation had termed Kerala as being among the vulnerable states vis-a-vis fake currency rackets.
Kerala’s proximity to UAE and Sri Lanka has made it a landing centre for fake notes, according to DRI sources.
There have been four major seizures in Kerala over the last four years. These include two each at Kozhikode and Kochi and involved more than Rs 90 lakh. Besides there have been small seizures by the police from different parts of the state.
Sources said that the traditional Dubai route to Kerala once used by gold smugglers is no longer active, though they have a role now in bringing in the fake notes.
The Inspector-General of Police, Mr K. Padmakumar, said that while he was not aware of the recently submitted report, the state was well-equipped to tackle the menace and there were several seizures. Sources said that roughly four out of every 1,000 currency notes in the country was fake, affecting the very credibility of the rupee.