Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Technology
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Visual Stories
  • Reviews
  • Phone Reviews
  • Fitness Bands Reviews
  • Speakers Reviews
  • Find Cricket Statistics
Hindi
More
In the news
Monsoon
Raksha Bandhan
NV Ramana
Coronavirus India
Coronavirus Cases In India
75 years of Independence
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Technology
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Visual Stories
Reviews
Phone Reviews
Fitness Bands Reviews
Speakers Reviews
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / India News / RBI refuses to provide information on fake currency, printing defects
India

RBI refuses to provide information on fake currency, printing defects

RBI refuses to provide information on fake currency, printing defects
Written by Gogona Saikia
Oct 20, 2017, 03:36 pm 2 min read
RBI refuses to provide information on fake currency, printing defects

The RBI has said it had processed 9,711.62mn demonetized Rs. 500 notes and 4,709.72mn Rs. 1,000 notes till August. However, it claimed to have no information on fake currency as "processing is in progress". It also refused to give details of printing defects in the new notes citing "economic interest". Rs. 15.28tn worth of old notes had been deposited in banks till June.

Details
Several complaints of design and color variations in new notes

After demonetization, 4,292.225mn new notes of Rs. 500 and 3,542.991mn of Rs. 2,000 were printed till March, an RTI reply revealed. However, there have been several complaints of variations in design and color. RBI had assured they are valid legal tender. "Steps have been initiated to acquire more Currency Verification and Processing Systems (CVPS) machines on lease," the reply said.

Case
Counterfeiters have copied at least 15 security features, claims mint

Meanwhile, the DRI has nabbed six persons, including a Congress office bearer, and seized Rs. 24L in a fake currency racket. A Nashik mint reported the counterfeiters in Bangladesh had successfully copied at least 15 of the 30 security features in the new notes, including "embossing of Mahatma Gandhi and water color marks". Security threads were also replicated.

Government
Rs. 11.23cr in fake currency detected post demonetization till July'17

This comes less than two months after Finance Minister Arun Jaitley claimed demonetization had helped rout out fake currency from the system. At the same time, the government accepted it had detected Rs. 11.23cr in fake currency since November'16 to July'17. The RBI has developed an app for Android and iOS to help users check the authenticity of notes.

Share this timeline
Facebook
Whatsapp
Twitter
Linkedin
Gogona Saikia
Gogona Saikia
Mail
“I may be on the side of the angels, but don’t think for one second that I am one of them.” Delhi University. Freethinker. “Social justice warrior”.
Latest
iOS
Reserve Bank Of India (RBI)
Nashik
Banking
Arun Jaitley
Latest
'John Wick: Chapter 4' director Chad Stahelski teases film details
'John Wick: Chapter 4' director Chad Stahelski teases film details Entertainment
Simona Halep wins the 2022 Canadian Open: Key stats
Simona Halep wins the 2022 Canadian Open: Key stats Sports
Bundesliga 2022-23, Bayern Munich beat Wolfsburg 2-0: Key stats
Bundesliga 2022-23, Bayern Munich beat Wolfsburg 2-0: Key stats Sports
2023 Kia Ray, with stylish looks, goes official: Check features
2023 Kia Ray, with stylish looks, goes official: Check features Auto
Saumya Tandon launches fundraiser for late co-actor Deepesh Bhan
Saumya Tandon launches fundraiser for late co-actor Deepesh Bhan Entertainment
iOS
Gizmore GIZFIT 910 Ultra smartwatch debuts with 15-day battery life
Gizmore GIZFIT 910 Ultra smartwatch debuts with 15-day battery life Technology
Government warns macOS, iOS, ChromeOS users of severe security threats
Government warns macOS, iOS, ChromeOS users of severe security threats Technology
WhatsApp 'Quick reactions' feature for status updates: How it'll work
WhatsApp 'Quick reactions' feature for status updates: How it'll work Technology
Upcoming WhatsApp features: Unread chat filter, Past Participants, and more
Upcoming WhatsApp features: Unread chat filter, Past Participants, and more Technology
Fastrack Reflex Play now available with Amazon Prime Day discount
Fastrack Reflex Play now available with Amazon Prime Day discount Technology
More News
Reserve Bank Of India (RBI)
RBI hikes repo rate by 50bps, GDP pegged at 7.2%
RBI hikes repo rate by 50bps, GDP pegged at 7.2% Business
Uber Files: Inside the ride-hailing firm's questionable tactics in India
Uber Files: Inside the ride-hailing firm's questionable tactics in India Business
CBI books DHFL's Wadhawans in Rs. 34000-crore bank fraud case
CBI books DHFL's Wadhawans in Rs. 34000-crore bank fraud case India
What is credit, debit card tokenization rule effective July 1
What is credit, debit card tokenization rule effective July 1 Business
RBI hikes repo rate by 50 bps; EMIs get costlier
RBI hikes repo rate by 50 bps; EMIs get costlier Business
More News
Nashik
10 coaches of LTT-Jaynagar Express derail near Nashik
10 coaches of LTT-Jaynagar Express derail near Nashik India
Maharashtra: Medical student dies in college; parents allege foul play
Maharashtra: Medical student dies in college; parents allege foul play India
Toddler suffering from genetic disorder receives life-saving injection for free
Toddler suffering from genetic disorder receives life-saving injection for free India
Gas-tanker hits railway tracks suffering tire burst; major accident averted
Gas-tanker hits railway tracks suffering tire burst; major accident averted Mumbai
Maharashtra: 22 dead after oxygen tank leaks outside Nashik hospital
Maharashtra: 22 dead after oxygen tank leaks outside Nashik hospital India
More News
Banking
ICICI Bank FD interest rates hiked: Check latest rates
ICICI Bank FD interest rates hiked: Check latest rates Business
Some banking rules that will change from next month (October)
Some banking rules that will change from next month (October) Business
Banks closed up to 21 days in October: Check list
Banks closed up to 21 days in October: Check list Business
#NewsBytesExclusive: How the Russian start-up JuicyScore strategizes credit fraud prevention
#NewsBytesExclusive: How the Russian start-up JuicyScore strategizes credit fraud prevention Inspirational
Two-day bank strike from today: These services would be affected
Two-day bank strike from today: These services would be affected Business
More News
Arun Jaitley
Bishan Singh Bedi wants his name removed from Kotla stand
Bishan Singh Bedi wants his name removed from Kotla stand Sports
Happy hours no more: Coronavirus changed rules of eating out
Happy hours no more: Coronavirus changed rules of eating out Business
Budget 2020: Nirmala Sitharaman reveals three themes of Budget
Budget 2020: Nirmala Sitharaman reveals three themes of Budget India
Jaitley: Remembering the man (behind the politician) on his birth-anniversary
Jaitley: Remembering the man (behind the politician) on his birth-anniversary India
Several DDCA members quit after Rajat Sharma's resignation
Several DDCA members quit after Rajat Sharma's resignation Sports
More News
Next News Article
Next News Article

Love India news?

Subscribe to stay updated.

India Thumbnail
India News Business News World News Politics News Sports News Technology News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Mukesh Ambani Indian Premier League (IPL) Karnataka Samsung Xiaomi West Bengal
Bihar Virat Kohli Rohit Sharma Haryana Narendra Modi Arvind Kejriwal Tamil Nadu Gujarat Yogi Adityanath YouTube
Instagram Hollywood News Uttar Pradesh Kerala Netflix Bollywood News Mamata Banerjee Maruti Suzuki Rahul Gandhi Elon Musk
Shah Rukh Khan Chelsea FC OPPO Akhilesh Yadav Indian Cricket Team Apple Manchester United Salman Khan Cryptocurrency OnePlus
Amitabh Bachchan ICC Women's World Cup Vivo India vs Sri Lanka
About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive IPL 2022 Schedule IPL 2022 Points Table Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2022