2022-06-04 12:19:37
Explanation
The Correct Answer is Increased
Key Points
• The total number of Fake Indian Currency Notes (FICNs) of all denominations detected in the banking sector increased to 2,30,971 pieces
• The number of fake currency note of ₹500 denomination detected by the banking system more than doubled to 79,669 pieces in the fiscal 2021-22 over the previous year, according to the RBI annual report.
• The number of counterfeit notes of ₹2,000 denomination detected in the system was 13,604 pieces during 2021-22, up 54.6% from the preceding financial year.
• During 2021-22, out of the total FICNs detected in the banking sector, 6.9% were detected at the Reserve Bank and 93.1% at other banks, the report said.
• One of the major objectives of the 2016 demonetisation of the then prevailing ₹500 and ₹1,000 notes was to curb circulation of fake currency notes.
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