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Afghanistan/South Asia
ISI accused of pumping fake currency
2004-11-03
The city police claims to have busted a racket in fake currency notes allegedly masterminded by Pakistan's Inter-Services Intelligence to "destroy" India's economy. Authorities in India frequently blame ISI for anything that goes wrong in the country. Apparently, acting on a tip-off by Mumbai police, Kolkata Police detectives yesterday arrested three persons and seized Rs300,000 in Rs500 denomination counterfeit notes. The three accused — two Indians and a Bangladeshi — were produced before a magistrate who remanded them in police custody until November 11 to complete investigations into what is being described as an ISI operation.
"Mahmoud, you idiot! You can't pass seven-rupee notes!"
"Sure I can, boss! Already did it this morning! Got a three and a four in change!"
Kolkata detective department chief Peeyush Pandey said that the arrested persons are being closely interrogated to unearth their ISI links but had hardly revealed anything so far. "Although we recovered Rs300,000, we have reasons to believe that the trio have already pumped fake notes totalling Rs500,000 into the money market to subvert Indian economy", said Pandey. Recently, Kolkata High Court acquitted four persons accused by the Indian police of passing defence secrets to ISI. Their arrest in 1999 was cited as proof of the ISI activities in India. But the court's clean chit thoroughly exposed the Indian establishment's ISI phobia.
Posted by:Steve White

#4  Getting arrested and paying it as baksheesh for release is a simple way to pass the counterfeit money into the economy. On the other hand, the Indian economy is growing so nicely that this money may well have been needed locally. Win/win?
Posted by: trailing wife   2004-11-03 10:41:26 AM  

#3  After spending plenty of time in India , from the far north to the far south , i can safely say the whole place stinks of corruption .. 'baksheesh' - the taking of bribes to get a job done faster and better , is common practice ,throughout all class's and job descriptions . It is esp a popular form of boosting income within the police and local state governments
Posted by: MacNails   2004-11-03 8:19:33 AM  

#2  Authorities in India frequently blame ISI for anything that goes wrong in the country.

Oddly enough, frequently the authorities are correct.
Posted by: Shipman   2004-11-03 8:04:40 AM  

#1  I recall from my coin collecting childhood that Indian currency comes in weird denominations (for a Westerner).
Posted by: phil_b   2004-11-03 7:42:51 AM  

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