Number of Fake Currency Notes of Rs 500 And Rs 2000 Denominations On The Rise: RBI
New Delhi, 30th May 2022: Fake currency is increasing rapidly in the country. According to the data of the Reserve Bank of India (RBI), the number of fake notes has increased a lot in 2021-22.
In 2020-21, the number of fake Rs 500 notes increased by 101.9 percent. On the other hand, in 2020-21, the number of fake Rs 2000 notes has increased by 54.16 percent.
As on March 31, 2022, the share of Rs 500 and Rs 2000 banknotes in circulation was 87.1 per cent of the total value. As of 31 March 2021, this figure was 85.7 percent. As of March 31, 2022, the share of Rs 500 notes was the highest, at 34.9 per cent. After this comes the number of banknotes of Rs 10, which was 21.3 percent of the total notes.
Compared to last year, counterfeit notes of Rs 10, 20, 200, 500 and Rs 2000 have increased by 16.4%, 16.5%, 11.7%, 101.9% and 54.6% respectively.
On the other hand, counterfeit notes of Rs 50 have come down by 28.7 per cent and Rs 100 notes have declined by about 16.7 per cent.
Two thousand rupees (Rs. 2000 Note) has been declining since the last few years. By the end of March this year, their share in the total currency notes has come down to 214 crores or 1.6 percent. This is stated in the annual report of RBI. Till March this year, the total number of notes of all denominations stood at 13,053 crore. The figure was 12,437 crore in the same period a year ago.
According to the annual report of the Reserve Bank of India (RBI), the number of notes in the denomination of 2000 rupees in circulation at the end of March 2020 was 274 crore. This figure was 2.4 per cent of the total number of currency notes in circulation.
After this, by March 2021, the number of 2000 notes in circulation came down to 245 crores or two percent. At the end of the last financial year, this figure came down to 214 crore or 1.6 per cent.
