-Scroll.in The court asked the Reserve Bank of India why it felt the need to constantly change the sizes and features of currency notes and coins. The Bombay High Court on Thursday said the government’s demonetisation exercise showed that it was a myth that Fake currency was in circulation. While hearing hearing a public interest litigation seeking to make currency notes and coins easily identifiable for vision-impaired people, the court asked the Reserve...
More »SEARCH RESULT
Total Matching Records found : 48
Demonetisation triggers 1400 per cent rise in suspicious transaction reports: Financial Intelligence Unit
-PTI The elite financial snooping unit of the country has compiled comprehensive data of such instances, including Fake currency deposits, for the year 2017-18. NEW DELHI: The 2016 demonetisation of two high-value currencies has led to an all-time high generation of over 14 lakh suspicious transaction reports (STRs), a record 1,400 per cent jump over the past, by banks and other financial institutions in the country, a latest FIU report has found. The...
More »Fake currency network intact -Vijaita Singh
-The Hindu But forensic reports say notes are of poor quality, security features not copied Two years after demonetisation, the Fake currency notes seized so far are not of a high quality, a probe by the National Investigation Agency (NIA) has found. Another Home Ministry official said the network of same Fake currency operators was still intact as two years ago, that pushed fake notes from the Bangladesh border. But there was not...
More »Demonetisation: A circus, clowns and a silver bullet -James Wilson
-National Herald Two years after the disastrous demonetisation, the Prime Minister and his Finance Minister—even the fawning media— no longer speak of the ‘Demonetisation Dividend’. There has been none Two years back, on November 8, at around 8.30 pm, the Prime Minister of India, with his characteristic love for drama, unleashed on the country what he had then claimed was the one silver bullet which would eliminate the triple evils of...
More »Note ban failed to curb the menace of counterfeit currency, indicates RBI's Annual Report
Although containing fake notes in circulation was one of the objectives behind demonetisation when it was undertaken in 2016, recent data from the Reserve Bank of India (RBI) reveals that fake counterparts of some denominations grew during 2017-18 vis-à-vis the previous year. The recently released Annual Report for 2017-18 of the RBI shows that the total number of pieces of counterfeit notes of Rs. 2000/- denomination, which was detected in the...
More »
