SRINAGAR: Police in Magam have arrested three individuals, including two students, for allegedly circulating fake Indian currency notes (FICN). The arrests were made during a routine operation based on credible information regarding suspicious monetary transactions in the area.
The accused have been identified as Bashrat Bashir Rather, 17, a student from Archander Hama in Budgam; Mohammad Shafie Ganaie, 37, from Mazhama Magam in Budgam; and Abid Manzoor, 17, a higher secondary student from Kawoosa Khalisa.
Authorities recovered fake currency totaling ₹27,500 from Bashrat Bashir Rather and ₹5,500 from Abid Manzoor, bringing the total seizure to ₹33,000.
A senior police officer in Magam said the investigation is ongoing to determine the source of the counterfeit notes and whether the suspects are linked to a larger network. “We are examining how the notes reached them and if others are involved in this circulation racket,” the officer said.
The arrest of two students has raised concern among locals, who called for increased awareness among youth about the severe consequences of engaging in such illegal activities. Residents highlighted that the easy availability of counterfeit currency not only harms the economy but also risks luring young people into criminal networks.
A case has been registered at Police Station Magam, and further questioning of the accused is underway. Officials emphasized that stringent action will be taken against anyone found guilty of distributing counterfeit currency in the district.
