-The Tribune Little impact of demonetisation Six years after demonetisation, the black currency market continues to thrive. There has been a whopping 107 times increase in the number of fake currency notes of Rs 2,000 denomination between 2016 and 2020. In a written reply to the Lok Sabha, Minister of State for Finance Pankaj Chaudhary today said 2,272 fake currency notes of Rs 2,000 denomination were seized in 2016, 74,898 in 2017, 54,776...
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Pronab Sen, Programme Director for the IGC India Programme and first Chief Statistician of India, interviewed by Vikas Dhoot (The Hindu)
-The Hindu The ill-prepared move left India with all the damages and very few of the benefits On November 8, 2016, Prime Minister Narendra Modi announced that from midnight, ₹500 and ₹1,000 notes would no longer be considered legal tender in India. The government’s stated aim was to curb corruption and the pervasion of black money in the economy, as well as the proliferation of fake currency which was also being used...
More »Fake banknotes seized in India doubled after demonetisation, Gujarat topped list: NCRB -Apoorva Mandhani and Aneesha Bedi
-ThePrint.in National Crime Records Bureau’s report for 2017 says new Rs 2,000 note, released after demonetisation, accounted for more than half the seized currency. New Delhi: Fake Indian Currency Notes worth Rs 28.1 crore were seized in 2017, almost doubling from the previous year’s mark of Rs 15.9 crore, according to the Crime in India-2017 report put together by the National Crime Records Bureau (NCRB). The report points out that the new Rs...
More »Fake 500 rupee notes up 121% in 2018-19, says RBI
-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...
More »Demonetisation showed fake currency was a myth, says Bombay High Court
-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...
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