RTI query: RBI declines to give info on fake notes, printing defects
The Reserve Bank of India ( RBI ) said it has processed 9,711.62 million demonetized notes of Rs 500 denomination and 4,709.72 million Rs 1,000 notes till August this year, but claims to have no information about counterfeit notes yet. This was in response to an RTI application filed by TOI. The RBI's response to the RTI query, seeking information on the fake currency detected post demonetization, said: "Processing of notes is in progress." The RTI reply also revealed that Rs 15.28 trillion value of old notes of Rs 500 and Rs 1,000 have been deposited in banks and the RBI, as on June 30, 2017. The total value of notes in circulation (including old notes of Rs 500 and Rs 1000 denomination) as on November 4, 2016, was Rs 17.74 trillion. The RBI also stated that it has no information about black money recovered post demonetization. On November 8, 2016, Prime Minister Narendra Modi announced demonetization as a measure to check black money and curb corruption and counte...