132.19 crore pieces of soiled Rs 2,000 banknotes disposed in last 3 FYs
Mumbai: A total of 132.19 crore pieces of soiled Rs 2,000 banknotes were disposed of in the last three financial years, according to the annual report of the Reserve Bank of India (RBI).
According to the report, the disposal of soiled Rs 2,000 banknotes by the RBI increased over the years.
In the financial year 2022-23, a total of 48.24 crore pieces were disposed of, compared to 38.47 crore pieces in FY22 and 45.48 crore pieces in FY21.
The overall disposal of soiled banknotes, including those of different denominations, increased by 22.1 percent to 2,292.64 crore pieces in 2022-23, compared to 1,878.01 crore pieces in the previous year.
According to the report, the disposal of soiled Rs 2,000 banknotes by the RBI increased over the years.
During the financial year 2022-23, the Reserve Bank of India (RBI) disposed of a total of 582.82 crore pieces of Rs 100 banknotes, which was the highest among all denominations.
This was followed by the disposal of 510.92 crore pieces of Rs 500 banknotes and 450.77 crore pieces of Rs 10 notes.
These figures indicate the quantities of banknotes that were taken out of circulation and disposed of by the central bank during that fiscal year.
In the fiscal year 2022-23, the Reserve Bank of India (RBI) detected 4.6 percent of the total Fake Indian Currency Notes (FICNs) in the banking sector, while the remaining 95.4 percent were detected at other banks.
Compared to the previous year, there was an increase of 8.4 percent in counterfeit notes detected in the denomination of Rs 20, and a 14.4 percent increase in counterfeit notes detected in the denomination of Rs 500 (new design). On the other hand, the detection of counterfeit notes in the denominations of Rs 10, Rs 100, and Rs 2,000 declined by 11.6 percent, 14.7 percent, and 27.9 percent, respectively.
These figures indicate the trends in counterfeit note detection and highlight the specific denominations where there were changes in the detection rates compared to the previous year.
On May 19, the Reserve Bank of India announced that it will withdraw Rs 2,000 notes from circulation and people can exchange or deposit them in their bank accounts by September 30.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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