Congress, TMC attack Centre over demonetisation after RBI report shows huge spike in fake notes

Congress leader Rahul Gandhi and TMC MP Derek O'Brien attacked the Centre over its 2016 demonetisation move after the latest RBI report revealed a huge spike in counterfeit notes in the country.

The Reserve Bank of India's latest annual report has given Opposition parties fresh ammunition in their attack on the BJP-led central government's demonetisation move back in 2016.

As per the RBI report, counterfeit notes of all denominations increased in the financial year 2021-22. The RBI detected 101.9 per cent more fake notes of Rs 500 denomination and 54.16 per cent more fake notes of Rs 2,000 denomination as compared to the previous year.

Apart from flushing out black money, the elimination of fake currency notes had been cited as one reason for the demonetisation exercise conducted by the central government in 2016.

Now, reacting to the fresh data, Congress leader Rahul Gandhi tweeted, "The only unfortunate success of demonetisation was the TORPEDOING of India’s economy."

The only unfortunate success of Demonetisation was the TORPEDOING of India’s economy. pic.twitter.com/S9iQVtSYSx