No records of fake currency deposited in banks, concedes RBI

While responding to an RTI inquiry which sought the extent of fake currency found in demonetised notes of Rs 1,000 and Rs 500 deposited in banks till December 10, 2016, the RBI has said no information is available with it.

No records of fake currency deposited in banks, concedes RBI

The Reserve Bank of India has conceded that there is no record available of the fake currency which has been detected in the demonetised notes deposited in banks.

While responding to an RTI inquiry which sought the extent of fake currency found in demonetised notes of Rs 1,000 and Rs 500 deposited in banks till December 10, 2016, the RBI has said no information is available with it. Mumbai-based activist Anil Galgali has filed the RTI.


Earlier also, RBI had refused to disclose information about consultation undertaken before the demonetisation move was announced by the Prime Minister on November 8.

Even Prime Minister’s Office had refused to disclose if Chief Economic Advisor and Finance Minister were consulted before the decision was announced.

The RBI statement comes after Finance Minister Arun Jaitley’s spectacular confession that there was no official estimation of black money either before or after 8 November — the day government announced to demonetise Rs 500 and Rs 1,000 notes.

“There is no official estimation of the amount of black money either before or after the government’s decision of 8 November, 2016 declaring that banknotes of denominations of the existing series of the value of Rs 500 and Rs 1000 shall cease to be legal tender with effect from 9 November,” he had said in a written reply in Lok Sabha.