- India wants to collaborate with US in imposing sanctions and blacklisting firms which provides paper, ink and machinery for printing currency notes in excess to the requirement of any country.
- This proposal will be placed by Home Minister Rajnath Singh before his US counterpart Jeh Johnson during the US-India Counter-terrorism and Homeland Security Cooperation dialogue scheduled to be held in December.
- Both the countries may consider cooperation for bringing certain safeguards and obligations on a reciprocal basis on currency material manufactured all over the world.
- If any entity found to be involved in supplying machine, material of services to a country or entity known to be printing counterfeit currency notes then that entity would be blacklisted by both countries
- Violating Indo-US code of conduct on sourcing of its production processes and materials from identified nations, maintaining excess inventory of raw materials than required are some of the other issues to be under scrutiny.
- Indian agencies are suspecting that most of the fake Indian currency notes are being circulated at the directive of elements in Pakistan