RBI annual report: Detection and estimates of counterfeit Indian currency

Total face value of fake currency detected post demonetisation according to the RBI was Rs 19.53 cr

Abhishek Waghmare 

A discussion on fake Indian currency notes (FICN) has been doing the rounds, especially since demonetisation. While the quantum of fake notes in circulation remains difficult to ascertain, data on the detection of fake notes by the Reserve Bank of India (RBI) throws some light on the possible range. The RBI put the figures of fake notes in FY17 at Rs 43.47 crore in its annual report released on August 30. This amount includes all denominations.  On the other hand, an analysis of the data released by the RBI on the detection rate of fake notes of Rs 500 and Rs 1,000 ...

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First Published: Fri, September 01 2017. 02:01 IST