Fake Indian currency recovered from Indo-Nepal Border
An Indian vendor displays wallets made from replica prints of the demonetised 500 and 1000 INR currency notes prints for sale at a stall in Mumbai on November 22, 2016.
India's Prime Minister Narendra Modi announced on November 8 that that 500 and 1,000 rupee ($7.50, $15) bills -- 85 percent of the cash in circulation -- would cease to be legal tender in a crackdown on fraud and tax evasion. The move -- which saw the notes withdrawn from circulation just hours after the announcement -- was initially welcomed, but frustrations have mounted in the largely cash-reliant country where millions have been left without enough to cover their daily needs.
/ AFP PHOTO / INDRANIL MUKHERJEE
Balrampur: Fake Indian currency notes with a face value of over Rs 4 lakh were recovered from a youth along the Indo-Nepal border here, the police said on Thursday.
The recovery was made yesterday by a joint team of police and SSB personnel on a tip off, Superintendent of Police Pramod Kumar said.
While a youth managed to flee, another who was identified as Ramdayal (26) was arrested after Rs 4.06 lakh of FICN was recovered from him.
A probe is on in the matter.