Finance Minister Arun Jaitley on Tuesday said fake currency worth Rs 11.23 crore had been detected since demonetisation, PTI reported. Citing data from the National Crime Records Bureau, the minister said in Parliament that 1,57,797 fake currency notes had been detected from 29 states.
Jaitley also said that the Reserve Bank of India had issued circulars regarding the detection of fake currency, to help banks detect and report such notes. He also stated that banks have been instructed to display design and security features of all bank notes prominently at branches, to educate the public.
In his written reply to a query, the finance minister said the RBI has launched a mobile application that allows users to see the features of the new Rs 500 and Rs 2,000 notes. Users can also check the authenticity of these notes, using this app.
The government, in a surprise move, had scrapped currency notes of Rs 500 and Rs 1,000 denomination on November 8, 2016.