One of the main reason given by PM Modi to implement Demonetization was to eradicate fake currency but there is already a huge amount of fake currency of new notes in the country now.
Recently two farmers in Madhya Pradesh were given 2,000 notes that didn’t have image of Mahatma Gandhi. This incident happened in a remote village in Sheopur district of Madhya Pradesh, the farmers received fake notes from a State Bank of India branch.
When the farmers contacted the bank, the bank officials said the notes were genuine but they took back the notes. They later clarified the issue by telling the farmers that it was because of a printing mistake. The bank manager clarified that the notes weren’t counterfeit but they were printed wrong.
The counterfeit new notes have already been mass produced and they are doing rounds for a while now. Last month the Odisha police had recovered Rs 4.8 lakh in new counterfeit currency and a few days earlier the police recovered Rs 7.64 lakh fake notes in Kanpur. Just two days after the new notes arrived in the country, the first counterfeit note was reported.