Gujarat emerging as epicentre of counterfeit currency, fake notes worth ₹176 cr seized in 10 years

Gujarat, often projected as a model state, is increasingly appearing to be an epicentre of fake currency circulation. Over the last decade, more than 33 lakh counterfeit currency notes have been seized in the state, with a total face value exceeding ₹176.42 crore.

Alarmingly, Gujarat now ranks first in the country in cases related to fake currency, raising serious concerns over the state’s economic security.

In the last 10 years, authorities seized 32,73,141 counterfeit notes in Gujarat, amounting to ₹176 crore. Notably, in the six years following demonetisation, fake ₹500 notes surged by 291 per cent. Despite these alarming figures, the government’s silence remains conspicuous. The ongoing ‘fake currency game’, fuelled by weak enforcement, is posing a serious threat to Gujarat’s economic stability.

When demonetisation was implemented in 2016, the Centre had claimed it would curb fake currency and black money. However, the ground reality in Gujarat presents a starkly different picture.

Official data released by the Union government showed that in 2022, Gujarat topped the list of states in terms of seized fake currency.