Fake Rs 500 Notes In Circulation Up By Over 197 Times In 5 Last Years

Counterfeit Currency: 8,34,947 fake counterfeit notes were seized by the government in 2020. In 2019, this figure was 2,87,404.

New Delhi: According to the data presented by the government in Rajya Sabha, fake Rs 500 notes in circulation has risen by over 197 times since 2016 in India. According to the data, in 2016, counterfeit notes of Rs 500 in 2016-17 stood at 199. The figure has risen to 39,453 in 2020-21.

Along with this, the number of fake Rs 2,000 notes has also risen from 638 to 8,798 in 2020-21. The number of Rs 50 fake notes also rose from 9,222 to a whopping 24,802.

Fake Notes In India: The number of fake Rs 2,000 notes has also risen from 638 in 2016-17 to 8,798 in 2020-21

However, in smaller denominations, the situation has improved slightly according to data. The fake Rs 10, 20 and 100 notes in circulation have been reduced. The data was tabled during the ongoing second phase of the Budget Session 2022 in the Rajya Sabha.

Rise In Fake Notes Seized In 2020-21

During the first phase of the Budget Session 2022, the government had informed Rajya Sabha that over 8,30,000 fake counterfeit notes were seized by the government in 2020. The exact figure stood at 8,34,947. In 2019, this figure was 2,87,404.

The figure has only crossed 3,00,000 twice, after the government’s decision of demonetisation. In 2017, the government seized 3,55,994 fake notes and in 2020, it seized 8,34,947 fake notes.

The National Crime Records Bureau (NCRB) is the nodal agency that compiles the data on crimes including counterfeit currency notes as reported to it by the states and the Union Territories.

The NCRB publishes the same in its annual publication ‘Crime in India’.

(With agency inputs)