2016-10-05 Wed

A fake coin minting racket was caught red handed in Bawana Industrial area, Delhi. Fake coins of the denomination Rs 5 and Rs 10, worth Rs. 10 Lakh was minted and circulated to toll booths, car repair shops, grocery stores, petrol pumps, vegetable vendors who always need small change for the past 4 months.

On Saturday, the police stopped a car near Rohini for a random security check and found 20 packets of coins. The driver said that he was a Punjab National Bank officer but failed to produce his identity card or answer simple questions regarding his position or his branch. He was arrested on the spot when the coins worth Rs. 40,000 were found to be fake.

Upon further investigations, minting machines and raw material for the coins were busted at the Bawana Industrial area and coins worth Rs 6 lakh were also seized. The owner of the factor is absconding and there is no proof as to who is the real boss of the gang.

Faking currency is a punishable offence as per Laws of India and can lead to life imprisonment. Only the Reserve Bank of India can issue coins for circulation.