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From Rs 500 to Rs 10: ISI shifts fake currency strategy, floods India with counterfeit low-value notes

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New Delhi, Aug 7: Criminal syndicates, including the network run by Dawood Ibrahim, have long been involved in circulating fake Indian currency notes.

Backed by Pakistan’s Inter-Services Intelligence (ISI), these networks have treated counterfeit currency as one of their most profitable operations for years.

Indian security agencies have now detected a significant shift in the way counterfeit currency is being pushed into the country. Investigators say the circulation of fake Rs 500 notes has declined sharply, pointing to a change in the strategy adopted by the counterfeit currency network.

Earlier, the network primarily focused on counterfeiting Rs 200 and Rs 500 notes. Agencies have now found that the emphasis has shifted to lower denominations, with fake Rs 10, Rs 20 and Rs 50 notes being circulated in large numbers.

The circulation of counterfeit currency not only finances these criminal syndicates but also poses a threat to India’s economic stability. Officials say this is one of the key reasons why Pakistan’s Inter-Services Intelligence (ISI) has continued to facilitate the trade, much of which is allegedly orchestrated through the Dawood Ibrahim syndicate.

An Intelligence Bureau official said there are credible intelligence inputs indicating that Pakistan’s ISI is planning to flood the market with counterfeit currency in lower denominations. According to the official, the strategy is to circulate fake Rs 10, Rs 20 and Rs 50 notes in much larger volumes than before.

“There are multiple reasons behind this newfound strategy. These elements are aware that people are extremely cautious about notes above Rs 100 denomination and will conduct a detailed check before accepting them. However, that is not the case when it comes to smaller denomination notes,” the official said.

People are generally less cautious when handling Rs 10, Rs 20 or Rs 50 notes and rarely stop to check whether they are genuine or counterfeit. That is precisely what these networks are seeking to exploit, the official said.

Officials said the syndicates believe lower denomination counterfeit notes are less likely to attract attention, making them easier to circulate in large numbers without raising suspicion.

Another official said that the period up to April 2027 will be crucial.

The biggest push would be made by these gangs to circulate fake notes of smaller denominations during these months. India plans to roll out polymer or plastic bank notes by 2028. The Reserve Bank of India (RBI) has said that polymer bank notes in the denominations of Rs 10 and 20 will be rolled out in 2028.

While the primary objective of introducing polymer notes is to increase their lifespan to nearly four times that of existing paper currency, they are also expected to offer significantly stronger security features. Officials say the enhanced anti-counterfeiting measures will make the notes far more difficult to replicate.

The plastic substrate allows for advanced security integrations which are impossible on paper. These new notes would have transparent windows, specialised metallic links and micro-optic holograms which would make them extremely difficult to forge.

Before this roll out, it is suspected that the ISI-backed gangs may look to ramp up circulation of counterfeit notes of the smaller denominations in the country.

Officials say that these gangs would focus increasingly on notes of smaller denominations. Once the rollout is complete in 2028, these syndicates would look to target the Rs 50 and 100 notes more compared with the notes of the Rs 500 denomination, the agencies warned.

The RBI has repeatedly issued instructions on how to spot a counterfeit note. The apex bank says that the small denominations may not have a high value, but are used more frequently in daily transactions. This makes them a common target for fraud, and hence citizens must be more careful while dealing with such currency, officials point out.

Crime

Kishtwar rape-death case: Main accused among three more held, total arrests reach five

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Jammu, Aug 27: The Special Investigation Team (SIT) of Jammu and Kashmir Police has arrested three more suspects, including the key perpetrator, in connection with the rape and death of a 15-year-old tribal girl in Kishtwar district last week, the police confirmed on Thursday.

Senior Superintendent of Police (SSP) Kishtwar, Naresh Singh, stated that the newly arrested individuals include a government school teacher accused of repeated sexual assault, his brother, and a daily-wager sweeper at District Hospital Kishtwar.

The minor girl allegedly died on August 20 following an abortion attempt in Chatroo area of the district.

The SSP said two of the accused have been identified as Mohd Ishaq and Riyaz Ahmed Sheikh, while the identity of the daily-wage sweeper is yet to be available.

According to the police, the minor was allegedly repeatedly raped by the teacher over several months, resulting in her pregnancy.

The Chatroo police received information about the girl’s suspicious death on August 20. As no formal complaint had initially been received, the police began inquest proceedings to establish the circumstances surrounding her death.

“During the course of the inquest, material disclosing the commission of cognizable offences surfaced,” the SSP said.

The proceedings were subsequently converted into an FIR at Chatroo police station.

The FIR was registered under provisions of the Bharatiya Nyaya Sanhita (BNS) relating to rape and death caused by miscarriage, among other offences. The Protection of Children from Sexual Offences (POCSO) Act was also invoked. During the investigation, provisions of the Scheduled Castes and the Scheduled Tribes (Prevention of Atrocities) Act were added.

Given the seriousness and sensitivity of the case, the police constituted an SIT headed by Additional SP Kishtwar Pardeep Singh. The team includes Deputy Superintendent of Police Nitish Sharma, Chatroo SHO Inspector Rishi Kumar and other officers. It has been directed to conduct a thorough, scientific and time-bound investigation into all aspects of the case.

During the inquest and subsequent investigation, evidence allegedly emerged against the government teacher, including allegations that he had repeatedly sexually assaulted the minor, resulting in her pregnancy.

The probe further revealed that the teacher, allegedly in criminal conspiracy with his brother, administered medicines purportedly intended to terminate the pregnancy, Singh said.

The girl was initially taken to the Public Health Centre in Chatroo for medical treatment and was later shifted to District Hospital Kishtwar by the accused and others. The police allege that the hospital’s daily-wager sweeper was also involved in the conspiracy. The minor received treatment at the hospital and underwent an ultrasound examination.

Accordingly, Ishaq, Sheikh and the sweeper were arrested for their alleged involvement in the conspiracy, the SSP said. He added that further arrests would be made wherever warranted by evidence.

“The investigation is being conducted in a fair, impartial, professional, scientific and evidence-based manner,” Singh said, adding that every aspect of the case was being examined and legal action would be taken against anyone found involved.

Meanwhile, the local Imam of Kishtwar Jamia Masjid has called for a complete shutdown across the district on Thursday, demanding a thorough investigation and action against all those responsible. The shutdown call has received support from various organisations, including lawyers and Hindu religious bodies.

The National Commission for Scheduled Tribes (NCST) has also issued notices to the Jammu and Kashmir chief secretary, Director General of Police and Kishtwar SSP, seeking their responses within five days. The commission said it may summon the officials in person if they fail to respond. It has decided to probe the alleged rape and death of the minor girl.

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Crime

Student found hanging in NIMS University Hostel in Jaipur; second fatality in two days

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Jaipur, Aug 27: A 20-year-old student was found hanging inside a hostel room at NIMS University near Jaipur, Rajasthan, police said on Thursday.

The incident came to light after fellow students noticed a foul smell coming from his locked room and informed the police late Wednesday night. The deceased has been identified as Mohit Saini, a resident of Lotesar in Mathura, Uttar Pradesh. He was a second-year CPT student and had been staying at the university’s Sunrise Hostel.

According to police, the incident was reported late at night. Hostel students became suspicious after detecting a strong foul smell coming from Saini’s room. They informed the Chandwaji police, following which a police team reached the hostel. Police had the locked room opened and found Saini’s body hanging inside. The body was subsequently shifted to NIMS Hospital for a post-mortem examination.

Chandwaji SHO Rajbir Singh said the condition of the body and the foul smell suggested that Saini may have died one or two days before the incident was discovered. Police suspect suicide but have not yet established the exact circumstances surrounding the death. Investigators are collecting information from hostel authorities and fellow students. The post-mortem examination is expected to provide further information about the cause and time of death.

The incident comes just one day after the death of another student at NIMS University. On August 25, B.Tech student Aditya Tiwari, a resident of Lucknow, allegedly died after falling from the 15th floor of a hostel building. The incident reportedly occurred at around 8:30 p.m. Tiwari was staying at the university’s Garnek Hostel.

According to the police, neither of his roommates was present in the room when the incident occurred. Police are investigating both incidents and examining the circumstances surrounding the deaths. Statements from students, roommates and hostel officials are expected to form part of the investigation.

The two incidents within a span of two days have raised concerns on the university campus. However, police have not indicated any connection between the two cases at this stage.

Further details are expected after the post-mortem reports and completion of the ongoing investigations.

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Crime

Delhi model stabbed to death inside her home by gym trainer

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New Delhi, Aug 27: A 21-year-old student and model was allegedly stabbed to death inside her home in West Delhi Tilak Nagar, with police suspecting the involvement of her gym trainer.

The deceased, identified as Muskan, was reportedly alone at her second-floor residence when the alleged attack took place on Wednesday. The accused, identified as Imran, allegedly entered the house, attacked her with a knife and fled from the scene.

Hearing Muskan’s cries for help, neighbours rushed to the residence and found her seriously injured and lying in a pool of blood. She was immediately taken to a hospital for treatment, but succumbed to her injuries.

“We are searching for the culprit,” Additional Deputy Commissioner of Police Abhishek Gupta told reporters, adding that the police were examining CCTV footage from the surrounding area as part of the investigation.

Muskan’s friend Aman said she was the youngest among three sisters. According to him, one of her elder sisters, who is currently in Chandigarh, called and asked him to rush to Muskan’s house after learning about the attack.

“I received a call, but I don’t remember the exact time. They told me they were not at home and that someone had entered the house and stabbed Muskan,” a friend of the deceased told media.

The friend said the alleged attacker was identified as Imran, who worked as a trainer at the same gym where Muskan used to exercise.

Aman said he immediately contacted another friend and asked him to reach the house and ensure that Muskan was taken to hospital. By the time he arrived, an ambulance had already reached the spot and shifted her for medical treatment.

He also claimed that Muskan’s sisters had previously raised concerns about Imran allegedly harassing her.

“He had troubled her earlier as well, and after this incident, suspicion immediately fell on him,” Aman said.

Police are conducting further investigation, and efforts are underway to trace and apprehend the accused.

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