nagpur despite government reports stating there have been a 400 increase in counterfeit transactions in india many banks in the country do not have fake currency detector machines fcdm rbi should issue mandatory orders to this effect immediately the common man fails to detect fake currency and all cannot procure fcdm hence banks should also install one such fcdm for its account holders and general public in their premises said vidarbha taxpayers association members in a memorandum sent to prime minister manmohan singh and rbi governor dr duwuri subbarao vta has convened a meeting to discuss the fake currency issue that continues to be pumped illegally into the country causing much damage to economy as well as taxpayers are tricked into accepting it government and its investigation agencies have grossly failed to curb menace of counterfeit currency in our country with its increased circulation traders and common man are facing extreme problems when either accidently or someone by trick manage to exchange trade with fake currency said vta president j p sharma according to the associations vicepresident ramkishan ojha the counterfeit currency racket in india is supported financed and controlled by few neighbouring countries which is not only thriving but has taken alarming proportions the seizures of fake notes in india are no more in hundreds or thousands but they are in crores hence just arresting persons involved will not help deep investigation to pinpoint the maker of such fake currency and appropriate tangible action is urgently required he added secretary of the association tejinder singh renu too said as per report compiled by the financial intelligence unit under the union finance ministry absolute number of counterfeit notes detected at bank branches and the reserve bank offices increased from 102687 in 200001 to 423539 in 201011 with a face value of over rs 35 crores