More Rs.1000/- counterfeit notes in circulation!!
Posted on: 01/Sep/2014 2:32:45 PM
The Reserve Bank of India has informed that there has been an increase in the circulation of counterfeit Rs. 1000/- notes.
In the current year alone, the bank has identified Rs. 500/- counterfeit notes worth Rs. 2.52 Lakhs.
Even though there is a perceptible reduction in circulation of Rs. 500/- counterfeit notes, there has been a substantial increase in the circulation of Rs. 1000/- counterfeit notes.
Last year, the number of Rs. 1000/- counterfeit notes was fixed at 98,459.
This year, the number of counterfeit Rs. 1000/- notes is fixed at 1,10,000.
The number of counterfeit Rs. 100/- notes is estimated to be 1,18,000. This is 10000 more than last year.
The expenses incurred on printing & circulation of Indian currency notes with safety & security features has been increasing every year. Last year, the expense was Rs. 2870 Crores. RBI has indicated that the current year expenses for this will be Rs. 3210 Crores.
