Report on counterfeit notes
By Neelima Shankar
Aug 25, 2014
Print    Email    RSS   

Recent reports on counterfeit notes have shown that maximum number of counterfeit notes accounts for Rs 500. 52% of the fake currency is of the 500 denominations, 24% of Rs 100 and 22.5% of the Rs 1000.

On the other hand it is also noticed that the number of counterfeit notes of Rs 500 has decreased while the Rs 100 and Rs 1000 fake notes have increased by 9.8% and 11.8% respectively. The apex has introduced the penalty on detection and reporting of counterfeit notes by banks. The total number of counterfeit notes detected last year were 4,98,252 and this year they went down to 4,88,273 this year.

To detect the fake notes RBI has asked the banks to deploy proper notes detecting machines and creation of forged notes vigilance cells in all banks. Further the RBI is also having the plan to in traduce the plastic currency by next year.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

J&K Bank raises PLR
FDs or Equity? Which suits you best?
Fixed deposits in India: Benefits,...
An Overview of Wealth Management Services...
Gold ETFs or Gold Funds: Which One Should...

NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...
If I invest 100000 rupees deposit for 2 year , how...

Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive