Reserve bank of India: Recently RBI has issued a new guideline regarding Rs 500. After which people’s tension has increased. After Rs 2000 notes, now Rs 500 notes are going to stop circulating. So let us know in detail about this new guideline of RBI in the news below…
After the withdrawal of Rs 2000 notes by the Reserve Bank of India (RBI), now a new challenge has emerged regarding Rs 500 notes. A big issue related to Rs 500 notes has been revealed in the latest annual report of RBI.
After the closure of pink notes of Rs 2000, now Rs 500 notes are becoming a source of serious problem for the Reserve Bank. According to this report, a steady increase has been observed in the infiltration of fake Rs 500 notes. In the financial year 2022-23, around 91 thousand 110 fake notes of Rs 500 were detected, which is 14.6 percent more than the previous year 2021-22.
In comparison, 39,453 fake notes of Rs 500 were detected in the financial year 2020-21, while in 2021-22 this number increased to 76 thousand 669. Thus, this increasing number of fake notes has become a matter of great concern for the RBI.
RBI expressed concern
The Reserve Bank of India (RBI) in its annual report recently shared worrying information about the increasing number of fake notes of Rs 500 and Rs 2000 in the country. According to the report, after the demonetization of Rs 2000 notes, now Rs 500 notes are the target of fraudsters in large quantities.
The number of fake notes is increasing
In the financial year 2022-23, a huge increase has been recorded in the number of fake Rs 500 notes. This year, about 91 thousand 110 fake notes were detected, which is 14.6% more than last year. In contrast, a 28% decline was seen in the number of fake Rs 2,000 notes, which stood at 9,806 notes.
The Reserve Bank report also states that fake notes of Rs 100, 50, 20, and 10 have also been recovered. Especially the number of fake notes of Rs 20 has increased by 8.4%.
This is how much RBI spent on printing notes.
RBI spent a total of Rs 4,682.80 crore on printing notes in 2022-23, which is less than last year. As of March 31, 2023, the share of Rs 500 notes in the country’s total currency circulation stood at 37.9%, while that of Rs 10 notes was 19.2%. This shows that identifying fake notes and removing them from the system is an important challenge for the RBI.
RBI and the concerned authorities are making continuous efforts to deal with this situation, so that the infiltration of fake notes can be stopped and the confidence of the citizens can be maintained. Along with this, the general public is also being made aware to be alert and identify fake notes.
No comments:
Post a Comment