217,000 fake notes of various denominations found in FY25, says govt

As many as 2.17 lakh pieces of fake notes of various denominations were detected during 2024-25 compared to 2.23 lakh such notes in the previous year, Parliament was informed on Monday.

Of this, highest -- 1,17,722 pieces -- counterfeit notes of 500 [MG (New) Series] were detected in FY25, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha.

This was followed by 51,069 pieces of such notes of 100 denomination and 32,660 notes of ₹200, he said.

"Government of India, in consultation with Reserve Bank of India, reviews the effectiveness of security features of banknotes from time to time and undertakes measures to introduce new security features in accordance with Section 25 of the Reserve Bank of India Act, 1934. Incorporating new security features/new designs in the banknotes to stay ahead of the counterfeiters is a continuous process," he said.

In reply to another question, Chaudhary said, the RBI has noted that net fixed assets of private limited companies registered a steady growth of 7.6 per cent, 10.3 per cent, and 10.2 per cent in 2021-22, 2022-23, and 2023-24, respectively based on financial statement data of corporates received from the Ministry of Corporate Affairs.

Additionally, he said, the RBI compiles data on investment intentions of private corporates using information received from select banks and financial institutions (FIs).

As per the latest data published in the August 2024 issue of the RBI Bulletin, the number of projects sanctioned by banks and FIs more than doubled, from 401 projects in 2021-22 to 944 projects in 2023-24.

During the same period, he said, the total cost of sanctioned projects rose significantly from ₹1.4 lakh crore to ₹3.9 lakh crore.

The government has taken several measures to enhance investor confidence and crowd-in or encourage private sector participation, with a focus on capital expenditure, infrastructure development, financial sector reforms and ease of doing business, he said.

Key initiatives include Production-Linked Incentive (PLI) schemes, she said, credit guarantee programmes, FDI liberalisation across sectors such as defence, retail and insurance, and regular review of the FDI policy.

Significant investments in infrastructure supported by instruments like Infrastructure Investment Trusts (InvITs), Real Estate Investment Trusts (REITs) and Infrastructure Debt Funds (IDFs), and Public-Private Partnerships (PPP) models under the Viability Gap Funding (VGF) scheme are aimed at crowding in private capital.

Institutions such as National Investment and Infrastructure Fund (NIIF) and National Bank for Financing Infrastructure and Development (NaBFID) provide long-term infrastructure financing.

Further, Budget 202526 announced steps like the Partial Credit Enhancement (PCE) facility, Urban Challenge Fund, and expansion of the Harmonised Master List of infrastructure to sustain momentum and investor interest.