Plastic currency notes, the only answer to curb fake currency notes that has taken the market by storm!!

Kedi Haralu

The rampant case of printed currency notes has caught the market in surprise, and the fact that the Security Press of Bangladesh as the main culprit, only adds to the organized network, which has even infiltrated our Banks. Since Rs 1000/- and Rs 500/- currency notes are scrutinized, most business men tend to overlook the hundred rupees notes, thus the guilty party has even studied this and has incorporated this in their modus operandi. Now Rs 100 currency notes are not safe anymore, thus most businesses prefer to be paid or transactions made through drafts and travelers cheques only, since it is safest. The banks too are very careful when one deposits money, but during withdrawals they tend to become careless, either intentionally or unintentionally, but there are numerous cases where the fake currency notes are given from the bank, for who would like to check all the notes, especially if it is a large amount.

The network has realized that it is now impossible to print out dollars, since it has become plastic money, and no more paper money, so the only market now is India. Plastic money was first manufactured at Australia, where the $ 20 and $50 notes were made of plastic, thus its success has led to other western countries to do like wise. When I say plastic money, I do not mean Credit or Debit cards, be it master card or visa card, but the Dollars are similar to the old ones, but the only difference is the material used. Plastic notes cannot be printed by any one outside the reserve bank, thus any dollar being used, if it is of paper, is scrutinized and then go through the laser beam for the final check. Thus the only answer to our problem is the use pf plastic while printing the Currency notes, for regardless of how much the police intelligence may try to solve the problem and pint point the main culprit, there will be many other new networks coming into the market. I remember, a few decades back, some politicians had used fake currency notes to buy votes during polling day only and was never used in the market, but now a days everyone seems to be involved, thus the incomprehensive attempt to stop the networks and syndicates dealing in fake currency notes. I will not be surprised even if the Prime Minister/President of Bangladesh has a hand in this, thus sharing the huge profits amongst themselves.

The Dimapur Police has proved its capability in cracking several cases be it murder, theft, robbery or fraud, and their latest achievement in arresting some people with the currency notes, in their jurisdiction. Dimapur Police, without being reminded is the best and most capable when Police force is compared to other districts or Northeastern States. But unfortunately they can only do so much, for the bulk of the fake currency notes have already passed them by, for if the public had not alerted the authorities in the media, it would have been an unknown issue. But doing the wrong things in a society will always be accounted and one day the truth emerges, for one cannot hide a crime forever. But as I was saying, it is not possible to stem the flow of fake currency notes, therefore the Reserve Bank of India needs to start manufacturing and printing currency notes above Rs 100/- on the material being used in other countries, which is a type of plastic. Once this material is introduced, the kingpins will feel the crunch and see that there is no gain in printing fake currency notes, for if this is not done, who is going to check the “Security Press” at Dhaka, Bangladesh? Nagaland is facing this crisis only now, but other States and countries had already felt the need of change in material for the currency notes a few decades back. The Government needs ti highlight such issues in the Centre, so that the Government of India will see the need for a change.

In conclusion, we cannot wait and sit back, waiting for the Government to come up with a solution, but we need to set the ball rolling, so that the Central Government will see the magnimity of the whole scenario, and also come out openly on who the main players are, plus warn the Bangladeshi Government for encouraging such nefarious deeds and plots and if they really want to carry with this, they should print their own currency and not ours. The answer is as simple as that. Plastic money will end the headache of the already overworked and overburdened Police Force in Nagaland, so that they can concentrate on other things such as anti social elements and criminal activities. As the electronic number plate is the answer for curbing and identifying stolen vehicles, plastic money will surely curb this menace once and for all.