Withdrawing 86% currency in circulation government claimed terrorist organizations will be hit hard by the move. However it doesn’t seems helping as new notes have been recovered from the terrorists. Fake currency business is booming. After old notes got demonetized around 9.6 crores fake currency had been recovered from across the country during November 10 to 27. It constituted around 5.3 crore of 1000 rupee note and 4.3 crores 500 rupee fake currency.
According to an estimate around Rs 400 crores of fake currency was in circulation before demonetization. Though government claims it has fixed the economy of black money via world’s biggest currency exchange exercise but nothing seems helping. Within days after new 2000 currency came to people, fake notes followed. Criminals started printing the new currency. One of the biggest scams which came in light was of a young entrepreneur who was appreciated worldwide for his invention for blinds in Modi’s startup India campaign was arrested later due to fake currency scam.