Counterfeit Banknotes and Rupees in India

Bankers in India estimate that up to $2.2 Trillion (120,000 Billion Indian Rupees) of currency in the country could be counterfeit.

In 2009 to 2010, the Reserve Bank of India detected over 400,000 counterfeit notes that were passed in circulation.

Authorities state that many ATM machines at bank locations dispense fake 500 and 1,000 notes.

Source:  “India’s reserve bank works to combat counterfeiters,” Radio Australia, April 23, 2013.