Overview

• The Reserve Bank of India and Ministry of Home Affairs have flagged a significant rise in counterfeit ₹500 notes across the country.
• The forgeries are sophisticated, closely mimicking genuine notes, with the only clear identifier being a misspelling of 'Reserve' as 'Raserve' in 'RESERVE BANK OF INDIA.'
• Key investigative and financial institutions, including the NIA, CBI, and DRI, have been mobilized to address the issue and monitor circulation.
• The public has been advised to carefully inspect ₹500 notes for security features and report suspicious currency to banks or law enforcement.
• Officials caution that the true volume of counterfeit notes in circulation may be much higher than currently reported.