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Detection of Fake INR 50, INR 100 Notes Increasing Over Time
September 12, 2018
This Wednesday, the central bank RBI announced that during the financial year 2017-18 the detection of fake currency notes of INR 50 and INR 100 denomination was the highest in the past 3 years.
RBI report said that around 23,447 pieces of counterfeit of INR 50 and INR 100 notes were detected in FY18 which are 154.3% higher than FY17’s 9,222 notes and 263.8% higher than FY16’s 6,453 notes. However, the overall detection of fake notes in FY18 was 31.4% lower than the previous year.
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