Increase in counterfeit notes, gold smuggling raised concerns, foreign currency being sent across the border!

Smuggling Menace In India: Foreign currency is being smuggled out of the country. So after the Korana epidemic, the supply of fake notes has increased in India. Not only this, there has been a huge increase in the smuggling of gold in the country. In which the surprising thing is that Myanmar and Bangladesh border has become the most favorable route for smugglers. Finance Minister Nirmala Sitharaman has released the Smuggling India 2021-22 report in the 65th Foundation Day program of the Department of Revenue Intelligence. According to which a large amount of gold is being smuggled and brought to India. So after Corona, the seizure of fake notes has increased. At the same time, a large amount of foreign currency is being smuggled out of India, in which 73 percent is in dollars.

gold smuggling from myanmar
According to this report, in 2021-22, DRI has seized 833.07 kg of smuggled gold worth Rs 405.35 crore. In which the maximum 37 percent gold is of Myanmar origin. Whereas earlier West Asia used to have a major share in the smuggled gold. 73 percent of the gold is smuggled into India through Myanmar and Bangladesh. Maximum gold smuggling is taking place through the northeastern state of Manipur.

smuggling of foreign currency
Smuggling of foreign currency out of India has increased, especially dollar. According to the report of DRI, smuggling of foreign currency is threatening the economic security of the country. Foreign currency is being taken out of the country illegally through hawala settlement, smuggling. The Financial Action Task Force has admitted that smuggling of foreign currency has become a major source of money laundering all over the world. The smuggled foreign currency seized by DRI includes 75 per cent US Dollar, 22 per cent UAE Dirham and 3 per cent Saudi Riyad.

Fake note threat to national security!
According to the DRI report, fake currency poses the biggest threat to national security. Fake notes are being smuggled into India through the border of Bangladesh and Nepal. The report said that the seizure of fake notes has increased in 2021 as compared to 2020. Quoting the National Crime Records Bureau (NCRB), it has been told that the recovery of fake notes had reduced in 2020 due to the Corona epidemic. But after the removal of Kovid restrictions, the people involved in the business of fake notes have come into action again and the supply of fake notes has increased in the country. Fake notes from Bangladesh and Myanmar borders are being used to send them to India.

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