BANGALORE: Till now a transit hub, Dubai is now the new printing hub for counterfeit Indian currency notes.
Earlier, Pakistan was a big, direct source of funneling of fake Indian currency notes (FICN) into the Indian economy, but Dubai has now taken that position.
According to enforcement agencies, the ‘Shopping capital of the Middle East’, Dubai is now a major centre for printing of FICN. The notes are printed in denominations of Rs 500 and Rs 1,000.
Intelligence sources told Express, “The recent seizures have also indicated that the quality of currency notes coming from Dubai is superior unlike the earlier scanned ones. It has become very difficult for detection, especially for the common man.” Due to international pressure, sources added that printing of FICN has stopped in Pakistan and now the King of Indian counterfeit, Aftab Batki has shifted his base to Dubai.