Fake Notes

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 Rs 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 limi

Fake notes with Anupam Kher's pic instead of Gandhi dupes firm of Rs 1.6 cr

The fake currency used to dupe the owner of a Ahmedabad-based bullion firm used misspelled Reserve Bank of India as 'Resole Bank of India'

Fake currency case: NIA court sentences accused to 5 years imprisonment

A special NIA court in Bihar has sentenced a key accused in the East Champaran fake currency case to five years' rigorous imprisonment, an official said on Sunday. Raisuddin, a resident of Mohanpur village in West Bengal's Malda district, was also fined Rs 5,000. The court convicted him in the 2015 case on August 18. He was sentenced on Saturday, a spokesperson for the federal agency said. He has been sentenced to five years of rigorous imprisonment with a fine of Rs 5,000 under various sections of the Indian Penal Code and the Unlawful Activities (Prevention) Act, the official said. Raisuddin is the fifth person to be convicted and sentenced in the case relating to the East Champaran Fake Indian Currency Notes (FICN) case. The Directorate of Revenue Intelligence, Patna, initially registered a case on September 19, 2015, following the seizure of high-quality FICN with a face value of Rs 5,94,000 (Rs 5.94 lakh) from another accused, Afroz Ansari. Ansari was carrying the FICN ...

Digital transactions in India highest in world but why is cash still king?

The Reserve Bank of India believes that households in India hold more high-value currency notes at home while substituting lower-value notes with digital transactions

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

Rs 500 fake currency notes surge 102% in FY22, says RBI annual report

Fake notes of Rs 2,000 increased by 55% in 2021-22 over the previous fiscal year

J-K Security Committee discusses cyber crimes, currency management

Principal Secretary Home Department of Jammu and Kashmir, Shaleen Kabra on Wednesday chaired a meeting to discuss the need to detect fake currency notes while also cautioning about online frauds

Fake notes in circulation fall, but remain significant: RBI annual report

Banks detected 95.4% of fake notes in 2019-20 (April to March), while the remaining 4.6% were detected by Reserve Bank

Brace up for more fake note discovery despite new bills: Study

Banks received Rs 15.31 trillion, or 99.3 per cent, of the Rs 15.41 trillion worth Rs 500 and Rs 1,000 notes in circulation on November 8, 2016, when the note ban was announced, it said

RBI slaps Rs 4-mn penalty on SBI for flouting directives on fake notes

RBI had carried out an inspection of currency chests of two branches of the country's largest lender

The curious case of notes issued by 'Children Bank of India'

Was it a just a prank or sheer disdain towards the so-called security features touted by govt?

Fake Rs 2,000 notes worth Rs 96,000 seized along Indo-Bangla border in WB

West Bengal Police had earlier seized 40 such fake notes from a man in Murshidabad

Fake notes of new Rs 2,000, Rs 500 worth Rs 26.10 lakh seized

Arrested persons identified as Hruday Jagani, Lakshman Chauhan, both hailing from Ahmedabad, police said