Fake currency gangs target rural, remote areas

Srikakulam: Recently fake currency notes’ rackets were busted in Sri-kakulam district by the police in different mandals and fake notes worth Rs 72.25 lakh were seized from the ac-cused.

The accused were held at two places in the district. They were reportedly having links with fake currency gangs in East Godavari district and adjacent Odisha state. These gangs are mainly targeting rural and remote areas and weekly markets where transactions are going on with cur-rency notes.

These gangs are reportedly maintaining relations with pet-ty vendors, local traders and moneylenders and luring them with exorbitant returns.

For small payments in daily and routine transactions, fake currency notes also included and mixed with the original notes. The menace is reaching its peak stage before Sankranthi festival as the season is set to witness massive money transactions through currency notes in rural and remote areas.

To prevent the circulation of the fake currency notes, a digital payment system and payments through banks are the appropriate solutions as they leave no scope for trans-actions using currency notes.

People in rural and remote areas need to be educated through awareness drives so that they gradually switch over towards digital and banking transactions.

Bankers and various forums need to create awareness among people on these transactions.