News Alerts

Note ban failed to curb the menace of counterfeit currency, indicates RBI's Annual Report

Note ban failed to curb the menace of counterfeit currency, indicates RBI's Annual Report

September 9, 2018

Although containing fake notes in circulation was one of the objectives behind demonetisation when it was undertaken in 2016, recent data from the Reserve Bank of India (RBI) reveals that fake counterparts of some denominations grew during 2017-18 vis-à-vis the previous year. The recently released Annual Report for 2017-18 of the RBI shows that the total number of pieces of counterfeit notes of Rs. 2000/- denomination, which was detected in the banking system, has jumped up from merely 638 to 17,929...

+ Read More
More News Alerts...

News Clippings

More...

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later