Panaji, September 15: A fake currency racket was busted by the Goa police in the heart of the city on Monday and 5 people were arrested in connection with the crime. A team of Panaji Police arrested five people who had come from Chandigarh to Goa a week ago. The group was using fake Indian currency notes in parts of Panaji and Porvorim. After the Police nabbed them, fake currency notes of different denominations with face value of Rs 2,96,400 were seized from them. Fake Rs 500 Notes Up by 121%, Rs 2,000 Currency Notes by 21.9% in 2018-19: RBI.

North Goa SP, Utkrisht Prasoon was quoted by ANI saying that as soon as the incident came to light, cops were pressed into action following which a case was registered in the matter. Prasoon added that the investigation into the matter is underway. According to a report by TOI, the accused, who had arrived in Goa one week ago, were staying at a hotel in Calangute. They were to leave for Chandigarh two days later. Rs 2,000 Currency Notes Were Not Printed in 2019-20: RBI Annual Report.

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Prasoon was quoted in the TOI report saying that the movement of the group was tracked using technical surveillance. During the search, the police recovered currency notes of different denominations — Rs 100, Rs 200 and Rs 2,000. A case has been registered under Sections 489 A, 489 B and 489 C of the India penal Code (IPC) at the Panaji police station.

(The above story first appeared on LatestLY on Sep 15, 2020 08:37 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).