2017-12-11 Mon

India released Rs 200 banknotes in August and many of us might have not yet seen them in circulation. However, a man in Jammu was caught with counterfeit currency worth Rs 6.36 lakh, who was allegedly printing them at his rented house in Sidhra.

270 were of Rs 200 denomination, 1150 notes of Rs 500 denomination and 19 notes of Rs 50 denomination were seized. After an FIR was lodged, a special investigation team worked on the case and arrested a man named Showkat Ahmed from Noourpura in Kulgam.

The new notes were released to meet the demands for lower denomination currency. RBI had released a statement that the supply of these notes would be increased. However, the Rs 200 notes are available in RBI offices and banks. It may take some time for these notes to be dispensed from ATMs due to new calibration.