# Counterfeit currency operations in India

> Live situation record from CLSTR: https://clstr.news/situations/counterfeit-currency-operations-in-india
> Updated: 2026-10-24T05:37:34.000Z. Sources: 14. Developments: 2.

Law enforcement agencies in India have conducted several operations targeting counterfeit currency networks. In Uttar Pradesh, the National Investigation Agency (NIA) arrested two primary suspects, Ajay Kumar and Harish Rounta, following the discovery of ₹17.29 crore in fake Indian currency notes at a Punjab National Bank currency chest in Saharanpur. The investigation, which the NIA took over in September, identified the suspects as central figures in a conspiracy to supply large quantities of counterfeit notes.

In Nagpur, Wathoda police discovered a printing setup in a rented room after a landlord broke a lock following a tenant's disappearance. Authorities recovered approximately ₹37 lakh in suspected fake ₹500 notes, along with printing materials and an additional ₹48 lakh in partially printed notes. The primary suspect, Pushpak Krishna Bandane, remains at large.

In Kollam, Kerala, an investigation into a missing person led police to a residence where they uncovered a suspected counterfeit unit. Officials seized a digital printer, currency-counting machines, and materials linked to fake notes with an estimated face value of ₹2.5 crore. One individual, Sibion, was taken into custody.

In Dungarpur, Rajasthan, police dismantled an interstate gang that utilized online techniques and digital files acquired via Telegram to print high-quality notes. This group reportedly sourced raw materials through the Chinese e-commerce platform Alibaba. Following a 1,300-kilometer pursuit, authorities arrested six suspects across four states, including the mastermind, Ravi Mishra, at a railway station in Punjab.

## Timeline

### 2026-10-24: Police uncover multiple counterfeit currency printing operations across India

Police in Nagpur, Kollam, and Dungarpur have busted separate counterfeit currency operations, seizing millions in fake notes and printing equipment across multiple Indian states.

6 sources. https://clstr.news/cluster/police-uncover-counterfeit-currency-operations-in-nagpur-and-dungarpur

### 2026-10-22: NIA arrests two key suspects in ₹17.29 crore fake currency case

The NIA has arrested two key conspirators, Ajay Kumar and Harish Rounta, involved in a scheme to supply ₹17.29 crore in counterfeit currency found in a Saharanpur bank chest.

9 sources. https://clstr.news/cluster/nia-arrests-two-more-suspects-in-1729-crore-fake-currency-case

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Cite as: Counterfeit currency operations in India. CLSTR, https://clstr.news/situations/counterfeit-currency-operations-in-india