The counterfeit currency menace is growing by leaps and bound in India due to the poor vigilance and prompt and coordinated against the fake currency printers and mafia operating in this field. In 2011, the rupee appeared to have emerged as the counterfeiter's currency of choice internationally.The fact was recently revealed in the report compiled by the Financial Intelligence Unit of the Union Finance Ministry which estimated around 400 per cent increase in counterfeit transactions in India's financial market.
The cross border fake currency dealers are the real threat as they given safe sanctuary there and the government feels what harms it does. But they should know that the same fake currency dealers and printers are printing fake currency for the country which gives them save heaven.
The intelligence bureau and the law enforcement agencies should come forward with measures which not only detects the fake currencies but also strong and fool proof measures to teach them a lesson.
There should be conscious effort to uproot the fake currency infrastructure existing in the neighbouring counties through diplomatic dialogues and collaboration in tackling the menace of fake currency.
Some of the others measures can be improving the quality of paper used in currency printing and new techniques of recording the transactions at the financial institution like banks. The recording will help in tracking down all the link associated with it. It is vital to reach to the sources but the intermediate links must be snapped whenever possible.