 "RBI, Reserve Bank of India")
Counterfeit notes detected of Rs 2,000 denomination jumped in 2023-24 to 26,035 pieces from 9,806 pieces in the previous financial year as the Reserve Bank of India (RBI) started to withdraw these denomination notes.
“On account of the ongoing withdrawal of Rs 2,000 banknotes from circulation and processing of these notes in large numbers, counterfeit notes detected in this denomination increased during the year,” the RBI said in its annual report for FY24.
Overall, the number of counterfeit notes detected in FY24 was lower than the previous year. There is a declining trend of counterfeit notes detected every year.
| Number of Counterfeit Notes Detected (April to March) | ||||
| Financial Year | Total | Rs 2000 | Rs 500* | Rs 200 |
| FY20 | 2,96,695 | 17,020 | 30,054 | 31,969 |
| FY21 | 2,08,625 | 8,798 | 39,453 | 24,245 |
| FY22 | 2,30,971 | 13,604 | 79,669 | 27,074 |
| FY23 | 2,25,769 | 9,806 | 91,110 | 27,258 |
| FY24 | 2,22,639 | 26,035 | 85,711 | 28,672 |
Source: RBI
*Excluding specified banknotes
