Mumbai: The number of fake Indian currency notes detected in the banking system fell for the third consecutive year, reflecting improved security features and greater vigilance. According to RBI’s annual report for 2024-25, counterfeit notes identified dropped to 2,17,396 in FY25, down from 2,22,639 in FY24 and 2,25,769 in FY23.The decline was mainly seen in denominations of Rs 10, Rs 20, Rs 50, Rs 100, and Rs 2,000, although counterfeit Rs 200 and Rs 500 notes increased. RBI credited this trend to the modernisation of currency management and enhanced security features, aimed at strengthening the integrity of banknotes.During 2024-25, printing presses supplied 3,03,00,000 lakh banknotes, matching the indent placed and marking a significant rise from 2,43,00,000 lakh pieces supplied the previous year. The total value of currency in circulation (CiC), which includes banknotes, central bank digital currency (CBDC), and coins, rose by 6.0% to Rs 36,86,811 crore by the end of March 2025, up from Rs 34,77,805 crore a year earlier. In volume terms, CiC grew by 5.6% during the period.Of the counterfeit notes detected, 4.7% were found at RBI offices, highlighting the central bank’s role in identifying and removing fake currency. The steady decline in fake notes points to the effectiveness of RBI’s efforts to secure the currency system and improve detection across banks.
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