The recent data from the Reserve Bank of India indicates a significant increase in counterfeit currency notes in the past five years, particularly in higher denominations.
The number of fake Rs 500 notes has risen by around 300%, which raises concerns about currency security.
The withdrawal of Rs 2000 notes in May has also contributed to the rise in counterfeit activity.
This concerning trend was disclosed in a government response to a parliamentary query, highlighting the ongoing challenges faced by authorities in combating counterfeit currency.