“The Real Story Behind Dhurandhar: How Congress-Era De La Rue Scam Compromised India’s National Security With Pakistan Taking Advantage With Fake Currency”, The Commune, December 15, 2025

“The 2025 Hindi film Dhurandhar frames India’s fake currency battle as a familiar intelligence-versus-terror-state narrative. Public records and investigative files, however, reveal a far more uncomfortable reality. According to Central Bureau of Investigation (CBI) documents, parliamentary records, intelligence assessments, and enforcement agency findings, the most damaging vulnerabilities in India’s currency security system emerged not across the border, but within India’s own decision-making apparatus.

Taken together, these records point to a chain of policy decisions and administrative compromises that, according to investigators, left India’s currency system vulnerable for years—conditions later exploited by Pakistan-based counterfeit networks.

Part I: The Architectural Gamble – The 2004 Monopoly Contract

Official records trace the origins of this controversy not to a Pakistani printing press, but to policy decisions taken in New Delhi in 2004. P Chidambaram, upon becoming Finance Minister in the first United Progressive Alliance (UPA) government, oversaw a critical decision. In July 2004, his ministry authorised the Reserve Bank of India (RBI) to enter into exclusivity agreements for certain banknote security features……”

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