Published: Tuesday, Aug 10, 2010, 2:28 IST
By DNA Correspondent | Place: New Delhi | Agency: DNA
http://www.dnaindia.com/india/report_centre-clips-cbi-s-wings-nia-gets-shot-in-the-arm_1421156
The government has decided to set up a special wing under the National Investigation Agency (NIA) to keep a close watch on terror funding. This wing will also investigate cases relating to fake currency notes.
So far, CBI had been investigating such cases. The government decided to divest the agency of the responsibility since terror funding and fake currency cases have attained alarming proportions and need special attention.
But this also means that the government has decided to clip CBI’s wings and give a boost to NIA, which functions directly under the Union home ministry.
While CBI will continue to look into cases of corruption and have an economic offences wing, any case relating to terror funding and fake notes will be taken up by NIA.
Since Pakistan has been flooding the Indian market with fake currency notes, the government has decided to strengthen its intelligence and investigation wings.
In a confidential report, New Delhi had recently told the world body on money laundering, of which it is a member, that high quality counterfeit Indian currency notes were being printed in Pakistan and smuggled through transit nodes in various countries.
Reserve Bank of India has recognised a sharp increase in the number of fakes and the authorities are concerned that this may have a debilitating effect on the Indian economy.
The number of counterfeit notes detected at various bank branches and Reserve Bank offices increased from 1,02,687 during 2000-2001 to 3,98,111 during 2008- 2009. According to law enforcement agencies, fake notes principally originate from Pakistan, but are smuggled through various routes. From Dubai, they are transported by air with the help of bona fide passengers or couriers.
Thailand, Malaysia, Myanmar and Sri Lanka are also used as transit points. International airports in Bangalore, Chennai, Kozhikode, Kochi, Hyderabad, Mangalore, Mumbai and New Delhi have been identified as the main landing points.
