The central bank was responding to an RTI filed by activist Anil Galgali seeking details about fake currencies. The Reserve Bank of India (RBI) has admitted it has no confirmed data of the number or value of fake currencies detected since the demonetization of Rs 500 and Rs 1,000 notes. As per an RTI query, which is filed by an activist Anil Galgali, revealed that RBI has no information regarding fake currencies detected post-demonetization. So the government's claim that demonetization used as a weapon to curb fake currency is proving hollow," said Galgali. "The RBI's replies make it obvious that the government has failed in this endeavour or raised the bogey of fake currencies merely to implement demonetization.

Source: dna January 24, 2017 07:57 UTC