Fake notes in circulation fall, but remain significant: RBI annual report

Banks detected 95.4% of fake notes in 2019-20 (April to March), while the remaining 4.6% were detected by Reserve Bank

Fake notes in the economy have fallen, but are still significant enough, even as high-value note counterfeiting seems to have been checked for now, the Reserve Bank of India’s (RBI) annual report said.

There was an increase of 144.6 per cent, 28.7 per cent, 151.2 per cent and 37.5 per cent in counterfeit notes detected in the denominations of Rs 10, Rs 50, Rs 200 and Rs 500 respectively. However, counterfeit notes detected in the denominations of Rs 20, Rs 100 and Rs 2,000 declined by 37.7 per cent, 23.7 per cent and 22.1 per cent, respectively, the central bank