RBI says increase in number of counterfeit notes; Congress and TMC against Center | demonetisation

New Delhi: The Congress and the Trinamool Congress (TMC) have come out with strong criticism of the central government following the release of the Reserve Bank of India (RBI) report on the rise in the number of counterfeit notes in the country. Critics point to the ban on banknotes by the central government in 2016.

Congress leader Rahul Gandhi tweeted that “the unfortunate victory of the ban on notes is only the destruction of the Indian economy”. ‘You promised to wipe out all counterfeit money. But according to the latest RBI report, there is a huge increase in counterfeit notes, ”tweeted TMC leader Derek O’Brien.

The RBI has reported an increase in counterfeit notes of all denominations in the 2021-22 financial year. According to the report, counterfeit notes of Rs 500 increased by 101.9 per cent and counterfeit notes of Rs 2,000 increased by 54.16 per cent over the previous year.

In addition to eradicating counterfeit money, the elimination of counterfeit notes was cited as the main reason for the ban on notes by the Central Government in 2016.

English Summary: As RBI report shows spike in fake notes, Congress and TMC slam Centre over demonetisation

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