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56% Of The Total Fake Currency Seized After Demonetisation Were Rs 2,000 Notes: NCRB Data

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After demonetisation, which was aimed at clearing the ills of black money, corruption and fake currency, Rs 2,000 notes have been proven to be the most counterfeited by fraudsters, according to government data.

Data from the National Crime Records Bureau (NCRB) released this week showed that notes of Rs 2,000 comprised of 56.31 percent of all the denominations of fake currency seized by authorities across India after demonetisation.

56% Of The Total Fake Currency Seized After Demonetisation Were Rs 2,000 Notes
 

Between November 2016 and December 2018, law enforcing agencies seized Fake India Currency Note (FICN) worth Rs 46.06 crore. Notes of Rs 1,000 denomination made for 20.23 percent of the total, followed by 15.02 percent Rs 500 (old) notes and 3.7 percent of Rs 500 (new) notes.

Further, NCRB's report also goes to show that counterfeit of Rs 2,000 notes rose from 2017 to 2018.

While in 2017, 53.3 percent of the total worth Rs 28.10 crore seized fake currency was of Rs 2,000 denomination, a year later, their share rose to 61.01 percent.

Among states, Gujarat topped the list, where the total value of fake Rs 2,000 notes seized was Rs 6.93 crore.

It was followed by West Bengal at Rs 3.5 crore, Tamil Nadu at Rs 2.88 crore, Uttar Pradesh at Rs 2.68 crore and Delhi at Rs 1.96 crore.

On the contrary, there were no fake Rs 2,000 notes seized in Jharkhand, Meghalaya and Sikkim during this period.

Read more about: demonetisation cash currency
Story first published: Friday, January 17, 2020, 14:16 [IST]
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