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LATEST NEWS UPDATES | Fake 500 rupee notes up 121% in 2018-19, says RBI

Fake 500 rupee notes up 121% in 2018-19, says RBI

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published Published on Aug 30, 2019   modified Modified on Aug 30, 2019
-PTI

* Counterfeiting of the newly-designed ?2,000 notes shot by 21.9% in 2018-19 in comparison to the previous year, the RBI said
* RBI said that counterfeit notes detected in the denomination of ?100 declined by 7.5%

New Delhi:
Counterfeiting of the newly-designed Rs.500 notes shot up by 121 per cent and of the Rs.2,000 notes by 21.9 per cent in 2018-19 in comparison to the previous year, the RBI said on Thursday.

Of the Rs.200 denomination note, which was introduced in August 2017, as many as 12,728 counterfeit notes were detected as against 79 during the previous year, the RBI said.

Further, the RBI detected an increase of 20.2 per cent, 87.2 per cent and 57.3 per cent in counterfeit notes detected in the denominations of Rs.10, Rs.20 and Rs.50, respectively, but counterfeit notes detected in the denomination of Rs.100 declined by 7.5 per cent.

Out of the total Fake Indian Currency Notes (FICNs) detected in 2018-19 in the banking sector, 5.6 per cent were detected at the RBI and 94.4 per cent by other banks, the RBI said.

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Livemint.com, 30 August, 2019, https://www.livemint.com/industry/banking/fake-500-rupee-notes-up-121-in-2018-19-says-rbi-1567136425194.html


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