New Dehi: Counterfeiting of the newly-designed ₹500 notes shot up by 121 per cent and of the ₹2,000 notes by 21.9 per cent in 2018-19 in comparison to the previous year, the RBI said on Thursday.

Of the ₹200 denomination note, which was introduced in August 2017, as many as 12,728 counterfeit notes were detected as against 79 during the previous year, the RBI said.

Further, the RBI detected an increase of 20.2 per cent, 87.2 per cent and 57.3 per cent in counterfeit notes detected in the denominations of ₹10, ₹20 and ₹50, respectively, but counterfeit notes detected in the denomination of ₹100 declined by 7.5 per cent.

Out of the total Fake Indian Currency Notes (FICNs) detected in 2018-19 in the banking sector, 5.6 per cent were detected at the RBI and 94.4 per cent by other banks, the RBI said.

The total expenditure incurred on security printing, the RBI said, from July 1, 2018 to June 30, 2019 stood at ₹48.11 billion as against ₹49.12 billion in the previous year.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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