Overview

• About ₹6,099 crore of withdrawn ₹2,000 notes remain in circulation and continue to be legal tender according to the RBI
• Detections of counterfeit ₹500 notes jumped 37% in fiscal 2024-25 to about 118,000 pieces from 85,711 the previous year
• Governor Malhotra reassured the Parliamentary Standing Committee that India’s economy remains robust even as total counterfeit notes dipped slightly to 218,000 from 223,000
• The RBI annual report identified 51,069 fake ₹100 notes, 32,660 fake ₹200 notes and 3,508 fake ₹2,000 notes in 2024-25
• Malhotra is scheduled to reconvene with the finance panel on July 23–24 to discuss proposed reforms to the Insolvency and Bankruptcy Code