Fight Against Fake Currency Intensifies; Banks & RBI Catch More Fake Notes

The number of fake banknotes of moreThe number of fake banknotes of ₹500 denomination caught by various banks and the RBI has increased by 14.4% to 91,110 pieces in 2022-23, according to the Reserve Bank of India's annual report released on May 30th. At the same time, the number of fake currency notes of ₹2,000 denomination detected during the same period decreased to ₹9,806 pieces. Despite demonetisation, the number of fake notes detected continues to remain above 2 lakhs over the last 3 fiscal years.