Circulation of fake currency in West Godavari district is alarming the police and bankers. According to M. Kripanandam, Assistant General Manager of Reserve Bank of India, the circulation of fake currency in the district accounts for nearly 3 per cent of the total circulation of such notes in nine districts together in the State. He was speaking at a meeting of the District Level Committee Dealing on Fake Currency. He informed that the RBI had estimated that the fake currency with a face value of Rs 48,963 million was under circulation in the country as on March 31, 2009. He said the RBI was planning to install the fake note detecting machines in all the bank branches by 2011. Shortage of machines was hampering the RBI's plan, he added.
The meeting chaired by Collector A. Vani Prasad decided to organize a banker-police interface to ensure a concerted effort to check fake currency in the district. The cashiers working in different banks and the Station House Officers would be invited to take part in the programme. Superintendent of Police B. Balakrishna said the trade centres like Bhimavaram and Akiveedu in the district were found to be a hotbed for fake currency circulation. He proposed to hold awareness programmes involving experts in detection of fake notes at onion market at Tadepalligudem and the other market centres of aqua products.
The SP appealed to the bankers to alert the police by dialling 100 or the police station concerned about the fake notes as and when found at the cash counters. Citing instances of tearing of fake notes by the cashiers, he said such actions would make the police clueless and offenders go on a scot-free.