Fake currency of Rs 11.23 crore face value detected post note ban

NEW DELHI: Fake currency having face-value of over Rs 11.23 crore was detected in 29 states post demonetisation, the government informed Parliament today.

In a written reply to the Rajya Sabha, Finance Minister Arun Jaitley also said that a mobile app has been recently launched by the Reserve Bank which allows users to see the features of new Rs 500 and Rs 2,000 notes.

The users can check authenticity of the new notes using the app, which can be downloaded from the 'Play Store' in Android phones or 'App Store' in iPhones.


Citing data of National Crime Records Bureau (NCRB), the minister said that 1,57,797 number of Fake Indian Currency Notes (FICN), having face-value of over 11.23 crore has been detected in 29 states post demonetisation until July 14.

In a surprise move, the government had scrapped high currency notes from November 9, 2016 with an aim to check fake currency, terror financing and black money.

Later, the Reserve Bank issued new Rs 500 and also Rs 2,000 notes in Mahatma Gandhi (New) Series.

Jaitley also said banks are under instruction to display design and security features of all the bank notes prominently at the branches for information of the public.