Minister of State for Finance Pankaj Chaudhary said that on the advice of RBI, the Government of India reviews the effectiveness of the security features of bank notes from time to time.
Fake Notes In India: 2,17,000 fake notes were seized in the country during the financial year 2024-25, while a year before this 2,23,000 such notes were seized. The government gave information about this in Parliament on Monday. In response to a written question in the Lok Sabha, Union Minister of State for Finance Pankaj Chaudhary said that the highest number of new series 1,17,722 notes of Rs 500 were seized. After this 51,069 notes of Rs 100 and 32,660 notes of Rs 200 were recovered.
Pankaj Chaudhary said that on the advice of RBI, the Government of India reviews the effectiveness of the security features of bank notes from time to time. Also, steps are taken to implement new security features under Section 25 of the Reserve Bank of India Act, 1934.
Government strict on fake notes
The government is taking strict action against fake notes. In response to another question, Pankaj Chaudhary said that the data of private corporate investment is compiled from banks and financial institutions at one place. According to the latest bulletin issued by RBI in August 2024, the number of projects approved by banks and financial institutions increased from 401 in 2021-22 to 944 in 2023-24.
During this period, the cost of approved projects also increased from Rs 1.4 lakh crore to Rs 3.9 lakh crore. He said that to restore investor confidence and increase private sector participation, the government is taking steps like capital expenditure, infrastructure development, financial reforms and ease of doing business. In addition, institutions such as the National Investment and Infrastructure Fund (NIIF) and the National Bank of Financing Infrastructure and Development provide long-term infrastructure financing.
In a written reply to other questions, Chaudhary said that the RBI has mentioned that based on the financial statement data received from the Ministry of Corporate Affairs, the net fixed assets of private limited companies recorded a stable growth of 7.6%, 10.3% and 10.2% in 2021-22, 2022-23 and 2023-24 respectively.
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