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Demonetisation: Have you also noticed that now the notes of 2000 rupees are very less from ATMs. A big reason behind this could be that no new notes of Rs 2000 have been printed during the last 3 years i.e. 2019-20, 2020-21 and 2021-22. This has been revealed in response to an RTI.
Revealed through RTI
The RTI application filed by IANS revealed that the Reserve Bank of India Note Mudran (P) Limited printed 3,5429.91 crore notes of Rs 2,000 in the financial year 2016-17, a much lower number of 1115.07 crore notes in 2017-18 and In 2018-19, only 466.90 crore notes were printed by reducing it further. On the other hand, the RTI reply received from Reserve Bank of India Note Mudran (P) Limited showed that the number of currency notes of Rs 2,000 denomination in the financial years 2019-20, 2020-21 and 2021-22 remained ‘0’.
2000 rupees notes were brought after demonetisation
The Rs 2,000 note was introduced by the Reserve Bank of India on November 8, 2016, after the government announced the demonetisation move banning the old Rs 500 and Rs 1,000 notes. RBI had issued banknotes in all denominations in the Mahatma Gandhi series – 2005 with a new numbering pattern in 2015. With easy-to-see security features, the general public can easily distinguish the counterfeit note from the original.
Fake notes of 2000 rupees increased in the country
A recent reply in Parliament (on August 1) said that according to NCRB data, the number of counterfeit notes of Rs 2,000 denomination seized in the country has increased from 2,272 to 2,44,834 between 2016 and 2020. According to the data, the total number of counterfeit Rs 2,000 notes seized in the country in 2016 was 2,272, which increased to 74,898 in 2017, which decreased to 54,776 in 2018. This figure was 90,566 in 2019 and 2,44,834 notes in 2020.
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More than 90 percent counterfeit notes were low quality notes
More than 90 per cent of counterfeit notes detected in the banking system were of inferior quality and no key security features were compromised. The details of the security features of these notes are displayed to the general public on the RBI website. It has been said in reply in Parliament. It also said that RBI issues various instructions to banks on measures to prevent counterfeit notes. The central bank regularly conducts training programs on detecting counterfeit notes for employees/officers of banks and other organizations handling large amounts of cash.
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