Post demonetisation 1,39,667 pieces of fake currency deposited in banks

The fake currency market was the worst hit. Fake currency racketeers from Pakistan had produced a huge number of notes in the Rs 500 and 1,000 denomination.

Mumbai, Dec 3 Banks have detected 1,39,667 pieces of fake currency between November 10 and 27. Two days after the decision to demonetise the Rs 500 and 1,000 notes were made, people made a beeline to the banks to exchange their old currency.

Several persons with fake currency too had landed in banks to get the notes exchanged. As per the data that has been provided by the Reserve Bank of India, there were in all 1,39,667 pieces of fake currency notes that had been detected.

As per the RBI, 86,621 pieces of the 500 denomination had been found. The banks had also detected 53,046 pieces of the Rs 1,000 notes as well.

The decision on demonetisation was aimed at targeting both black money hoarders and fake currency racketeers. When the decision on November 8 was made by the Prime Minister, the Rs 500 and Rs 1,000 notes were no longer legal tender.

The fake currency market was the worst hit. Fake currency racketeers from Pakistan had produced a huge number of notes in the Rs 500 and 1,000 denomination.

OneIndia News