The Reserve Financial institution of India on Thursday mentioned that the variety of counterfeit Rs 500 denomination notes detected within the banking system surged by 37.3 per cent within the yr 2024-25.
The RBI and banks detected 1.18 lakh of pretend Rs 500 notes (new design) price Rs 5.88 crore throughout 2024-25, as in opposition to 85,711 counterfeit notes valued at Rs 4.28 crore detected in 2023-24, in line with the RBI’s annual report for 2024-25.
The RBI additionally reported a 13.9 per cent rise in detection of the variety of counterfeit Rs 200 notes in 2024-25. Complete variety of counterfeit Rs 200 denomination notes detected in 2024-25 stood at 32,660 price Rs 65.32 lakh, in comparison with 28,672 faux notes valued at Rs 57.34 lakh.
Throughout 2024-25, the counterfeit notes detected within the denominations of Rs 10, Rs 20, Rs 50 and Rs 100 at 32.3 per cent, 14 per cent, 21.8 per cent and 23 per cent. The largest decline was seen within the variety of counterfeit Rs 2,000 notes, which dropped by 86.52 per cent to three,508 notes in 2024-25, in comparison with 26,035 items in 2023-24.
The whole variety of counterfeit notes detected by the RBI and banks stood at 2.17 lakh in April 2024-March 2025, decrease than 2.22 lakh in 2023-24. Out of the full Faux Indian Forex Notes (FICNs) detected within the banking sector, 4.7 per cent have been detected on the Reserve Financial institution and 95.3 per cent at banks, the annual report confirmed.
In the meantime, the RBI mentioned that the worth and quantity of banknotes in circulation elevated by 6 per cent and 5.6 per cent, respectively, throughout 2024-25.
In 2024-25, the share of Rs 500 banknotes at 86 per cent, declined marginally in worth phrases. In quantity phrases, Rs 500 denomination at 40.9 per cent, constituted the best share of the full banknotes in circulation, adopted by Rs 10 denomination banknotes at 16.4 per cent.
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The decrease denomination banknotes – Rs 10, Rs 20 and Rs 50, collectively constituted 31.7 per cent of whole banknotes in circulation by quantity.
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