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Currency Notes
The high-value Rs 2,000 notes worth Rs 5,817 crore are still in circulation, according to the Reserve Bank data released on Saturday. The Reserve Bank of India (RBI) had announced the withdrawal of Rs 2,000 denomination banknotes from circulation on May 19, 2023. Rs 2,000 banknotes continue to be legal tender. In a statement, the central bank said the total value of Rs 2,000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of the currency was announced, has declined to Rs 5,817 crore at the close of business on October 31, 2025. "Thus, 98.37 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned," it said. The facility for exchange of the Rs 2,000 banknotes is available at the 19 issue offices of the RBI since May 19, 2023. From October 9, 2023, RBI issue offices are also accepting Rs 2,000 banknotes from individuals/entities for deposit into their bank accounts. Further, t
Cyber intelligence firm CloudSEK has detected counterfeit currency syndicates based out of Maharashtra operating via social media platforms, the company said in a report. The report said that the earlier such syndicates were confined to the dark web and underground print shops and claimed that such syndicates were now operating in broad daylight through social media platforms like Facebook and Instagram. Sourajeet Majumder, a security researcher at CloudSEK, said the firm has reported about the syndicate to the law enforcement agencies with details of the cyber criminals along with their phone numbers, GPS location and supporting digital evidence. He said the counterfeit currency network was flourishing openly on social media platforms. "In a first-of-its-kind investigation, CloudSEK's STRIKE team has not only quantified the spread -- Rs 17.5 crore worth of fake Indian currency in just six months -- but also attributed key individuals behind the operation using facial recognition,
The Reserve Bank of India (RBI) on Thursday said nearly 97.5 per cent of the Rs 2,000 bank notes have been returned to the banking system, and only about Rs 8,897 crore worth of the withdrawn notes are still with the public. On May 19, 2023 the RBI announced the withdrawal of Rs 2,000 denomination bank notes from circulation. "The total value of Rs 2,000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2,000 banknotes was announced, has declined to Rs 8,897 crore at the close of business on January 31, 2024," the RBI said in a statement. Thus, 97.5 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned, it added. "The Rs 2,000 banknotes continue to be legal tender," the RBI added. People can deposit and/or exchange Rs 2,000 bank notes at the 19 RBI offices across the country. People can also send Rs 2,000 bank notes through India Post from any post office to any of the
Pakistan's central bank has announced that it will introduce new currency notes with enhanced security features to deal with the menace of counterfeit currencies in the cash-strapped country. The Governor of the State Bank of Pakistan Jameel Ahmed told the media here that the currency notes will be incorporated with advanced international security features, including distinct security numbers and design to modernise the Pakistani currency. Ahmed also said the transition would be gradual so that Pakistan does not face disruption and public panic problems as has been witnessed in some other countries in the past. However, some financial experts wonder whether the introduction of new currency notes could also include demonetisation of the Rs 5,000 or higher denomination notes to combat the counterfeit and black money market. According to experts, cash-strapped Pakistan's economy is influenced a lot by the illegal use of black money which is easier due to the circulation of higher ...
The Reserve Bank of India (RBI) has said that Rs 2,000 notes can be exchanged through post offices as well. There are reports of people queuing up at the RBI offices for returning the Rs 2,000 notes. In a set of Frequently Asked Questions (FAQs) on its website, the RBI said people can send the notes to any of its 19 issue offices from any post office. People need to fill up an application form which is available online and send the notes to a RBI issue office from any facility of India Post, it said. In May last year, the apex bank announced its decision to withdraw the Rs 2,000 notes, which was first introduced after the demonetisation exercise in 2016. The decision to withdraw the Rs 2,000 notes was taken as most of these notes had exceeded their expected lifespan and were also not being used by the public for transactions, the RBI had said. At present, over 97.38 per cent of the Rs 2,000 notes in circulation as in May 2023 have been returned. After allowing for exchange or dep
