NEW DELHI: As many as 7,62,072 pieces of counterfeit notes were detected in the banking system last fiscal, a 20.4 per cent increase over the previous year, the Reserve Bank said today.
During 2015-16, 6.32 lakh pieces of fake currency notes had been detected, the central bank said in its annual report for 2016-17.
It also said that barring Rs 100, the detection of counterfeit notes increased across denominations –- notably, Rs 500 and Rs 1,000 — during the last fiscal.
In the report, the RBI said that coincident with the announcement of the withdrawal of Rs 500 and Rs 1,000 notes on November 8, 2016, it launched a nation-wide exercise to estimate the density of fake Indian currency notes (FICNs) detected during the counting and verification of notes. (AGENCIES)
Follow our WhatsApp channel
