RBI concedes, no records of fake currency deposited in banks


There is no record available of the fake currency which has been detected in the demonetised notes deposited in banks, Reserve Bank of India has said.

Responding to an RTI inquiry from Mumbai-based activist Anil Galgali seeking to know 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.

Earlier, 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.

This 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 scrapping of old 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 bank notes 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.

(With inputs from PTI)