## The Decline of Counterfeit Currency in India
The printing of fake Indian currency notes has significantly decreased during the NDA government's regime. Data from the Reserve Bank of India (RBI) shows that approximately Rs 7.98 crore worth of counterfeit notes were detected in FY23, a 70% reduction compared to Rs 24.84 crore found in FY14.
This decline is attributed to several factors, including the government's demonetization initiative in 2016 and the introduction of new security features in banknotes. The demonetization of high-value banknotes disrupted the operations of counterfeiters, while the new security features, such as watermarks and micro-lettering, made it more difficult to produce fake notes that could pass as genuine.
Despite the overall decline, there are still concerns about the circulation of counterfeit notes, particularly in higher denominations. In FY23, the number of fake notes detected in the denominations of Rs 500 and Rs 200 remained high, while the number of fake Rs 2,000 notes decreased significantly.
The RBI and law enforcement agencies continue to work together to combat the threat of counterfeit currency. The RBI has implemented various measures to improve the security of banknotes and to raise public awareness about counterfeit notes. Law enforcement agencies are also actively investigating and prosecuting individuals involved in the production and distribution of fake currency.
The decline in counterfeit currency is a positive development for the Indian economy. Counterfeit notes can have a negative impact on the economy by devaluing legitimate currency and contributing to inflation. The continued efforts of the RBI and law enforcement agencies to combat counterfeit currency will help to ensure the integrity of the Indian currency and protect the economy from the harmful effects of fake notes.