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Fake Currency Notes: A huge jump in the number of fake Rs 2,000 notes seized

Fake Currency Notes Update: If you have Rs 2,000 notes, definitely check whether it is genuine or not. The government has told Parliament that there has been an increase in the number of notes being seized between 2018 and 2020. Minister of State for Finance Pankaj Chaudhary has told in writing in the Lok Sabha that according to the data of NCRB, the number of counterfeit notes seized between 2018 and 2020 has increased.

Increase in seizure of fake notes of 2000
The number of counterfeit notes of Rs 2000 denominations seized between 2016 and 2020 was given. In which it was told that in 2016, where only 2,272 counterfeit notes of Rs 2,000 were seized, the number increased to 74,898 in 2017, this number came down to 54,776 in 2018. But in 2019 again this number increased to 90,556. And in 2020, according to NCRB data, a total of 2,44,834 notes worth Rs 2,000 have been seized. However, information about the period after this has not been given. However, the government told Parliament that the number of fake currency notes of Rs 2,000 seized in the banking system has decreased from 2018-19 to 2020-21. In 2021-22, a total of 13,604 fake Rs 2,000 notes were identified in the banking system, which is 0.000635 per cent of the total Rs 2,000 notes in circulation.

Strictness on Smiling of Fake Notes
The Minister of State for Finance said that NIA has been made the nodal agency for the investigation of high quality noble Indian currency notes to check the circulation of counterfeit notes. Also, the FICN Coordination Group (FCORD) has been formed to share intelligence between the security agencies of the states and the central government. Apart from this, Teter Funding and Fake Currency Cell has been set up in NIA which investigates cases of Teter funding and counterfeit notes. He said that a joint task force has also been formed to share information between India and Bangladesh and identify those who smuggle counterfeit notes.

RBI report
Earlier, the RBI had also said in its annual report that the number of counterfeit notes in the country in 2021-22 has increased by 10.7 percent compared to 2020-21. In 2021-22, 101.9 percent more fake notes of 500 rupees have been found. At the same time, there has been an increase of 54.16 percent in the number of counterfeit notes of Rs 2,000.

effect of counterfeit notes
Fake notes weaken the economic structure of the country. This also increases inflation as the cash flow in the banking system increases. Fake notes increase illegal transactions in the country as such transactions do not use legal currency.

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