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Beware: The highest number of fake notes of Rs 100 and Rs 500 in the country doubled in a year

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Fake Notes

Highlights

  • In the midst of the Corona crisis, this black business has doubled.
  • Last year 79,669 counterfeit notes of Rs 500 were caught
  • Most fake notes are of Rs 100 and Rs 500

The business of counterfeit notes is booming in the country. In the midst of the Corona crisis, this black business has doubled. According to the latest report of the Reserve Bank, 79,669 fake notes of 500 rupees were caught in the country last year. This number is double that of the previous year. The shocking thing is that most of the fake notes are of 100 and 500 rupees. However, there has been a decrease in the number of fake Rs 100 notes.

This information has been given in the annual report of Reserve Bank of India (RBI). According to the report, 13,604 counterfeit notes worth Rs 2,000 were detected in 2021-22. This is 54.6 percent more than in 2020-21. The total number of Fake Indian Currency Notes (FICNs) of various denominations found in the banking sector in the last financial year increased to 2,30,971 from 2,08,625 in 2020-21. In 2019-20, 2,96,695 counterfeit notes were caught.








Fake note Decrease/increase in one year
10 rupees 16.4%
20 rupees 16.5%
100 rupees – 16.7%
200 rupees 11.7%
500 rupees 101.9%
2000 rupees 54.6%

Out of the total counterfeit notes found in the banking system in 2021-22, 6.9 percent were caught in the Reserve Bank and 93.1 percent were found in other banks. The government took the step of demonetisation in 2016 to check fake currency. In this, Rs 500 and Rs 1,000 denomination notes were taken out of circulation. A total of Rs 4,984.8 crore was spent on secure printing between April 1, 2021 and March 31, 2022, while Rs 4,012.1 crore was spent between July 1, 2020 and March 31, 2021, the report said.

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