Fake Notes Worth More Than Rs 15 Crore Seized In 2016, Highest In Delhi: NCRB Report

National Crime Records Bureau released details on number of fake notes seized in the year 2016.

Updated on: 30 November 2017 3:29 pm

A total of 2,81,839 fakes notes worth Rs. 15,92,50,181 were seized in 2016, shows the annual report of the National Crime Records Bureau released on Thursday

The details were included under Fake Indian Currency Notes (FICN) table introduced for the first time in the latest data for 2016, the year demonetisation was announced and 86% of the currency was rendered illegal.

Seizures made by State/UT Police, Investigation Agencies, Intelligence Agencies & CAPF and Detections made by Banks (RBI, Public Sector, Private Sector & Foreign Banks) were taken into account of the National level database created by the NCRB.

According to the report, Delhi has reported maximum number of seizure of Fake Indian Currency Notes, at 1,14,751 notes (worth Rs. 5,65,21,460) followed by Gujarat 39,725 notes (worth Rs. 2,37,24,050) and West Bengal 32,869 notes (worth Rs. 2,32,95,800) during 2016.

The report includes seizures of old currency notes of Rs 500, and Rs 1,000, which were removed from circulation on November 8 last year and made illegal tender.

After the note ban, old notes were allowed to be deposited in banks, with unusual deposits coming under income tax scrutiny.

The Reserve Bank, in its Annual Report for 2016-17 , had said that Rs 15.28 lakh crore of the junked currency, as much as 99 per cent of the junked notes, had come back into the banking system, leaving only Rs 16,050 crore out.

As on November 8, 2016 there were 1,716.5 crore pieces of Rs 500 and 685.8 crore pieces of Rs 1,000 in circulation, totalling Rs 15.44 lakh crore.

Demonetisation was hailed as a step that would curb black money, corruption and check counterfeit currency.