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Business News/ Politics / Policy/  Fake currency of Rs11.23 crore face value detected after demonetisation
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Fake currency of Rs11.23 crore face value detected after demonetisation

Finance minister Arun Jaitley, while speaking in the Parliament, says fake currency having face value of over Rs11.23 crore was detected in 29 states post demonetisation

Arun Jaitley also said that the RBI has recently launched a mobile app which allows users to see the features of new Rs500 and Rs2,000 notes. Photo: Abhijit Bhatlekar/MintPremium
Arun Jaitley also said that the RBI has recently launched a mobile app which allows users to see the features of new Rs500 and Rs2,000 notes. Photo: Abhijit Bhatlekar/Mint

New Delhi: Fake currency having face value of over Rs11.23 crore was detected in 29 states post demonetisation, the government informed the Parliament on Tuesday.

In a written reply to the Rajya Sabha, finance minister Arun Jaitley also said that a mobile app has been recently launched by the Reserve Bank of India (RBI) which allows users to see the features of new Rs500 and Rs2,000 notes.

The users can check authenticity of the new notes using the app, which can be downloaded from the ‘Play Store’ in Android phones or ‘App Store’ in iPhones.

Citing data of National Crime Records Bureau (NCRB), the minister said that 1,57,797 number of fake Indian currency notes (FICN), having face-value of over 11.23 crore has been detected in 29 states post demonetisation until 14 July.

The government, in a surprise move, had scrapped high currency notes from 9 November 2016 with an aim to check fake currency, terror financing and black money.

Later, the RBI issued new Rs500 and also Rs2,000 notes in Mahatma Gandhi (new) series.

Jaitley also said banks are under instruction to display design and security features of all the bank notes prominently at the branches for information of the public.

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Published: 18 Jul 2017, 06:54 PM IST
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