Increase in fake Rs 500 currency notes: According to the Reserve Bank of India, the number of counterfeit notes has increased significantly in the financial year 2021-2022. According to the Reserve Bank of India (RBI), fake notes of Rs 500 have doubled in a year. Compared to last year, the central bank has detected 101.9% more notes of Rs 500 and 54.16% more notes of Rs 2,000.
The increasing number of counterfeit notes is troubling. The Reserve Bank of India says that 87.1% of the 500 and 2000 rupee notes deposited in the bank till 31 March 2022 were fake notes. At the same time, as of 31 March 2021, this figure was 85.7%.
100% increase in fake Rs 500 currency notes
The RBI said that it was 21.3% of the total notes in circulation as of March 31, 2022. On the other hand, if we talk about other notes, compared to the previous year, fake Rs 10 notes have increased by 16.4% and Rs 20 notes by 16.5%. Apart from this, an increase of 11.7% has been registered in the fake notes of 200 rupees.
At the same time, the good thing is that looking at the figures of last year, in this financial year, the fake notes of 50 rupees have decreased by 28.7% and fake notes of 100 rupees by 16.7%. The Prime Minister of India, Narendra Modi announced the demonetization of Rs 500 and Rs 1000 notes on November 8, 2016 at 8 pm on TV. After this decision of demonetization, new notes of Rs 500 and Rs 2000 have come into circulation in the country.
Over 50% increase in Rs 2000 note
After the decision of demonetization of the Modi government, the Reserve Bank of India had completely disappeared the old notes of 500 and 1000 rupees from the circulation. After this, the Rs 500 note came in a new format. Rs 2000 note came into existence only after demonetization. The reason for demonetization was told by the government to crack down on counterfeit notes. In such a situation, once again the arrival of fake currency of new notes is also a matter of concern for the government.