Fake Indian Curreny

Fake ₹500 notes at six-year high in FY25, ₹2000 counterfeits fall: RBI

The number of counterfeit notes below ₹200 denomination also rose by 13.9 per cent YoY to 32,600 pieces

Weaker rupee seen as boost for exports, but reality is more complex: FIEO

A weaker rupee is often seen as a boost for Indian exports by making goods more competitive globally, but the reality is more complex, the apex exporters' body FIEO said on Friday. Federation of Indian Export Organisations (FIEO) President Ashwani Kumar also said the recent depreciation of the domestic currency against the US Dollar represents a complex economic scenario with mixed outcomes. "A weaker rupee is not a one-size-fits-all solution to boost exports. A strategic, multi-pronged approach is needed to address the root causes of depreciation while mitigating its adverse effects," he said. Explaining it further, he said, that if the rupee depreciates by 2 per cent and the currencies of key competitors decline by 3-5 per cent, Indian exporters lose competitiveness in global markets. "This relative disadvantage erodes any potential price advantage Indian goods might gain," Kumar added. The domestic currency has depreciated over 4 per cent last year. The rupee closed at 86.22 .

Rupee among the world's most stable currencies: BJP counters Cong's claims

The BJP on Monday said the rupee is among the "most stable" currencies in the world and slammed the Congress for painting a "grim picture" of the fall in its value against the US dollar. India's improved external position, reduced current-account deficit and strong foreign exchange reserves have made the rupee one of the most stable currencies globally, BJP's IT cell head Amit Malviya said in a post on X. Over the last year, the rupee depreciated by a modest 3.68 per cent, outperforming major currencies like the Japanese Yen and Korean Won, which fell by 9 per cent to 12 per cent during the same period, even as the US Dollar Index surged by 9.8 per cent, Malviya said. "So, the next time someone paints a grim picture of the Indian rupee, remind them of its disastrous performance under the UPA and the remarkable turnaround under the Modi government," he added. The reaction of the Bharatiya Janata Party (BJP) leader came after the Congress took a swipe at Prime Minister Narendra Modi

SC gives Centre final chance to respond on defaced currency in J-K

The Supreme Court on Friday granted a last opportunity to the Centre to file its response on a PIL seeking CBI probe into the RBI exchanging defaced currency notes worth Rs 30 crore allegedly belonging to a Kashmiri separatist group. While noting enough time had been given to the Union of India to file its reply, a bench of Justices Surya Kant and Ujjal Bhuyan granted four more weeks "in the interest of justice". The top court was hearing a PIL filed by one Satish Bhardwaj, who alleged in 2013 the Jammu branch of RBI exchanged the currency notes amounting to Rs 30 crore allegedly belonging to a separatist group called "Kashmir Graffitti". Bhardwaj's plea said, "The act of the Jammu branch of Reserve Bank of India to exchange the defaced/imperfect Indian currency notes worth Rs 30 crore -- that too done by a separatist group of Kashmir with the main aim of destabilising peace and harmony in the region of Jammu and Kashmir and to create an environment of tension and terror in the mind

79,669 pieces of fake Rs 500 notes detected by banks in FY22: RBI report

The number of counterfeit notes of Rs 2,000 denomination detected in the system was 13,604 pieces during 2021-22, up 54.6 per cent from the preceding financial year

Is Modi winning fake currency war? A data you shouldn't miss

Total face value of fake currency detected post demonetisation according to the RBI was Rs 19.53 cr