Shocking! 100% increase in fake notes, Says RBI

The Reserve Bank of India (RBI) on May 20 said that duplicate notes of all denominations have increased a lot in the financial year 2022

As per the recent report by central bank, among all notes that saw an increase in the number of counterfeits, Rs 500 note was the worst hit. Comparing with last year, RBI detected 101.9% more fake notes of Rs 500 and an increase of 54.16% in fake notes of Rs 2,000 tender.

Below mentioned is the list that can be followed to check the authenticity of Rs. 500 notes:

  • If light is shed on the currency note, one can see 500 written in special places.
  • 500 will also be found written in Devanagari on the currency note.
  • Orientation and relative position of Mahatma Gandhi’s photo shifts to the right.
  • India will be written on the Rs 500 currency note.
  • When the currency note is bent, the security head color changes from green to indigo.
  • Governor’s signature, guarantee clause, promise clause, and RBI emblem have shifted to the right of the currency note
  • Mahatma Gandhi’s photo and electrotype watermark will be found on the currency note.
  • Color of the Rs 500 written on the note can be seen changing from green to blue.
  • Ashoka Pillar on the right side of the currency note is to be noticed.
  • Printed Swachh Bharat logo and slogan can be found.

The number of currency notes of Rs 2000 denomination have declined over the years to 214 crore or 1.6 per cent of the total currency notes in circulation at the end of March this year. According to the recent report, the number of Rs 500 denomination notes in circulation went up to 4,554.68 crore towards March end this year as against 3,867.90 crore in the year-ago period.

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