14% rise in Rs. 500 fake notes

New Delhi: The number of counterfeit currency notes of Rs500 denomination detected by the banking system, rose by 14.6 per cent to 91,110 pieces in 2022-23 compared to last year, according to the Reserve Bank of India’s (RBI) annual report released on Tuesday.

At the same time, the number of counterfeit notes of Rs2,000 denomination detected by the system, fell by 28 per cent to 9,806 pieces during the same period.