Fake Currency Detected in India in FY 2011

In the 2010-2011 Fiscal Year, authorities in India detected 423,539 incidents of counterfeit money transactions, an increase of over 400 percent from the 127,781 incidents detected in the 2009-2010 Fiscal Year.

The most counterfeited currency was the 500 Rupee note, which accounted for 60 percent of all counterfeit money seized.

Source:  PTI, “400 percent rise in fake currency circulation: Finmin report,” Economic Times, January 15, 2012.