AgenciesThe Reserve Bank of India ascertained a 101.93% rise in fake notes of Rs 500 denomination and 54% for fake notes of Rs 2,000. The increase rate of counterfeit notes for Rs 10, Rs 20 and Rs 200 were 16.45%, 16.48% and 11.7% respectively.
The RBI detected an increase of 10.7% in counterfeit notes of Indian denominations in FY22.
Counterfeit notes detected for denominations of Rs 50 and Rs 100 declined by 28.65% and 16.71% respectively, the report showed.
Currency circulation witnessed a slow growth in FY22. The value and volume of banknotes in circulation grew by 9.9% and 5% respectively as against 16.8% and 7.2% in the preceding fiscal.
According to a RBI report, “During 2021-22, out of the total Fake Indian Currency Notes (FICNs) detected in the banking sector, 6.9 percent were detected at the Reserve Bank and 93.1 percent at other banks”.
The RBI detected an increase of 10.7% in counterfeit notes of Indian denominations in FY22.
Counterfeit notes detected for denominations of Rs 50 and Rs 100 declined by 28.65% and 16.71% respectively, the report showed.
Currency circulation witnessed a slow growth in FY22. The value and volume of banknotes in circulation grew by 9.9% and 5% respectively as against 16.8% and 7.2% in the preceding fiscal.
According to a RBI report, “During 2021-22, out of the total Fake Indian Currency Notes (FICNs) detected in the banking sector, 6.9 percent were detected at the Reserve Bank and 93.1 percent at other banks”.
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