Fake 500 rupee notes up 121%, Rs 2,000 currency notes 21.9% in 2018-19; decline in counterfeit Rs 100 notes: RBI

  • Out of the total Fake Indian Currency Notes (FICNs) detected in 2018-19 in the banking sector, 5.6% were detected at the RBI

  • The total expenditure incurred on security printing, the RBI said, from 1 July 2018 to 30 June 2019

  • Of the Rs 200 denomination note, which was introduced in August 2017, as many as 12,728 counterfeit notes were detected

New Delhi: Counterfeiting of the newly-designed Rs 500 notes shot up by 121 percent and of the Rs 2,000 notes by 21.9 percent in 2018-19 in comparison to the previous year, the RBI said on Thursday.

Of the Rs 200 denomination note, which was introduced in August 2017, as many as 12,728 counterfeit notes were detected as against 79 during the previous year, the RBI said.

 Fake 500 rupee notes up 121%, Rs 2,000 currency notes 21.9% in 2018-19; decline in counterfeit Rs 100 notes: RBI

Representational image.

Further, the RBI detected an increase of 20.2 percent, 87.2 percent and 57.3 percent in counterfeit notes detected in the denominations of Rs 10, Rs 20 and Rs 50, respectively, but counterfeit notes detected in the denomination of Rs 100 declined by 7.5 percent.

Out of the total Fake Indian Currency Notes (FICNs) detected in 2018-19 in the banking sector, 5.6 percent were detected at the RBI and 94.4 percent by other banks, the RBI said.

The total expenditure incurred on security printing, the RBI said, from 1 July 2018 to 30 June 2019 stood at Rs 48.11 billion as against Rs 49.12 billion in the previous year.

Updated Date: Aug 30, 2019 13:53:09 IST