counterfeit notes: This denomination noticed the very best improve in counterfeit notes in FY22


The Reserve Financial institution of India ascertained a 101.93% rise in pretend notes of Rs 500 denomination and 54% for pretend notes of Rs 2,000. The rise price of counterfeit notes for Rs 10, Rs 20 and Rs 200 had been 16.45%, 16.48% and 11.7% respectively.

The RBI detected a rise of 10.7% in counterfeit notes of Indian denominations in FY22.

Counterfeit notes detected for denominations of Rs 50 and Rs 100 declined by 28.65% and 16.71% respectively, the report confirmed.

Foreign money circulation witnessed a sluggish progress in FY22. The worth and quantity of banknotes in circulation grew by 9.9% and 5% respectively as in opposition to 16.8% and seven.2% within the previous fiscal.

In keeping with a RBI report, “Throughout 2021-22, out of the whole Faux Indian Foreign money Notes (FICNs) detected within the banking sector, 6.9 % had been detected on the Reserve Financial institution and 93.1 % at different banks”.

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