Fake Rs 50, Rs 100 Notes' Detection Record High in 2017-18: Reserve Bank of India

Mumbai: The detection of counterfeit notes in the Rs 50 and Rs 100 denomination witnessed a record high in 2017-18 compared with two preceding fiscals, the RBI announced on Wednesday.

According to the Reserve Bank of India's (RBI) annual report for 2017-18, the number of fake Rs 50 notes detected shot up 154.3 per cent to 23,447 pieces, as against 9,222 notes detected in 2016-17 and 6,453 in 2015-16. The RBI said that the detection of counterfeit Rs 100 notes increased 35 per cent to 239,182 pieces during the said period, compared with 177,195 notes in 2016-17 and 221,447 in 2015-16.However, the detection of counterfeit notes was 31.4 per cent lower in 2017-18 compared with the previous year. (IANS)