A year after demonetisation, seizures of fake currency notes see sharp dip

Interestingly, what is described as equally significant by officials is that none of the fake currency notes caught post-demonetisation were of high quality

A year after demonetisation, the recovery and seizures of fake Indian currency notes (FICN) have witnessed a sharp drop from the earlier levels recorded in 2016 and 2015.

The face value of counterfeit Indian currency seized across the country between November 2016, when demonetisation was announced, and November 6, 2017, totalled Rs 16 crore, less than one-third of the Rs 51.3 crore seized in 2016. The RBI put the figures of fake notes in FY17 at Rs 43.47 crore in its annual report released on August 30. This amount includes all denominations.