India signs MoU with Bangladesh to fight with fake currency smuggling [ Current Affairs ]


About Bangladesh: Bangladesh is a country in South Asia. Bangladesh is the world’s eighth - most populous country with over 160 million people. About agreement with India: India and Bangladesh have signed a memorandum of understanding (MoU) to find out the Fake Indian Currency Notes (FICN) smuggling.

  • The MoU was signed at earliest meeting of the Joint Task Force on Fake Currency Notes (JTFFC) held on 12th and 13th August, 2015 in Dhaka.

About key points of agreement:

  1. Both countries have agreed to share intelligence inputs to restriction of fake currency smuggling.
  2. Advance note sorting machines: India will provide these machines to Bangladesh to detect fake currency at international airports, immigration points, integrated crossing points, banks and financial institutions in Bangladesh.
  3. State - of - the - art facilities: India will establish these facilities in Bangladesh for inspection of fake currency notes.
  4. India will give facility to maintain a digital record of analysis and removals of fake notes in which it include creation of a database on smugglers which can be used by both countries.
  5. Forensic Science Laboratory: India will help Bangladesh to set up this laboratory for examination of fake notes.

- Published on: August 17, 2015