According to the RBI, there has been an increase of 101.9 percent in the year 2020-2021 in fake notes of 500 rupees, while there has been an increase of 54.16 percent in fake notes of 2000 rupees.
New Delhi. The circulation of fake notes has increased a lot in the country. According to the latest data of the Reserve Bank of India (RBI), the number of fake notes has increased significantly in the financial year 2021-22. According to the central bank, there has been an increase of 101.9 percent in the year 2020-2021 in fake notes of Rs 500, while there has been an increase of 54.16 percent in fake notes of Rs 2000.
A TimesNow reportAccording to the RBI, the share of Rs 500 and Rs 2000 banknotes was 87.1 per cent of the total value of banknotes in circulation as on March 31, 2022, as against 85.7 per cent as on March 31, 2021. In terms of volume, Rs 500 denomination banknotes had the highest share of 34.9 per cent as of March 31, 2022. It was followed by Rs 10 denomination banknotes, which constituted 21.3 per cent of the total banknotes.
Fake notes of Rs 50 and Rs 100 decreased
in comparison to the previous year, Rs 10, Rs 20, Rs 200, Rs 500 (new design) and Rs 2000 counterfeit notes were 16.4%, 16.5%, 11.7%, 101.9% and Rs. 54.6% increased. At the same time, fake notes of Rs 50 have decreased by 28.7 percent and fake notes of Rs 100 have decreased by 16.7 percent.
2000 rupee notes are disappearing fast
According to the RBI’s Annual Report, the number of 2000 rupee banknotes has been declining for the last few years. By the end of March this year, their share in the total currency notes came down to 214 crores or 1.6 percent.
Till March this year, the total number of notes of all denominations stood at 13,053 crores. A year before this, in the same period, this figure was 12,437 crores. According to the RBI report, the number of Rs 2,000 denomination notes 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.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
