RBI increased circulation of fake notes of 500 Rupees latest news update 2023
Latest Updated 31/05/2023: It has been revealed in the annual report of the Reserve Bank that in the last financial year i.e. 2022-23, the trend of fake notes of new design of Rs 20 and Rs 500 has increased. RBI has reported that there has been an increase of 8.4 per cent in Rs 20 notes and 14.4 per cent in Rs 500 notes.
According to statistics, 91,110 fake notes of Rs 500 were caught in the banking system in 2022-23 as compared to the financial year 2021-22. There has been a decline of 11.6, 14.7 and 27.9 per cent in counterfeit notes detected in the denominations of Rs 10, Rs 100 and Rs 2,000, respectively. During the same period, 9,806 fake notes of Rs 2,000 denomination were seized.
- This year 2.25 lakh notes were caught
- Fake 20 rupee note also revealed
However, overall the number of counterfeit notes detected in the banking system has come down as compared to the previous financial year. Their number was earlier 2.30 lakh, which has reduced to 2.25 lakh this year. Of the counterfeit notes, 4.6 per cent were detected in the Reserve Bank, while 95.4 per cent were caught by the banks.
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