NEW DELHI: The number of fake notes of Rs 500 denomination detected has increased by 14.4% to 91,110 pieces in 2022-23 compared to the previous year.
This was stated by the Reserve Bank of India (RBI) on its annual report released on Tuesday (May 30).
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On the other hand, number of fake currency notes of Rs 2000 denomination detected decreased to 9806 pieces, the RBI report stated.
“Compared to the previous year, there was an increase of 8.4 per cent and 14.4 per cent in the counterfeit notes detected in the denominations of Rs 20 and Rs 500 (new design), respectively,” the RBI stated.
“The counterfeit notes detected in the denominations of Rs 10, Rs 100, and Rs 2000 declined by 11.6 per cent,” stated RBI report.
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“During 2022-23, out of the total Fake Indian Currency Notes (FICNs) detected in the banking sector, 4.6 per cent were detected at the Reserve Bank and 95.4 per cent at other banks,” the RBI mentioned in its report.