Several reports claimed that due to people being cautious about the higher denomination notes, those running a racket of counterfeit notes have shifted their focus towards circulated the lower denomination notes like Rs 100 and Rs 50.
The Reserve Bank of India (RBI) has stepped in to raise awareness about fake currency notes of the 50s and 200s being in circulation and has informed about how to identify them.
The RBI celebrates Financial Awareness Week. On this occasion, the central bank's Regional Director Laxmikant Rao provided vital information. He explains how people can identify fake currency notes and how customers can make a complaint if they are not satisfied with the bank's service or have an issue.
10 Year of printing of the note on the left
Talking of filing a complaint against a bank if it is not listening to the customer's complaint, the central bank has listed the steps to follow to raise it. To register a complaint before the Lokpal against any institution regulated by the Reserve Bank of India (RBI).
It may be noted that the RBI organizes the Financial Awareness Week every year.
Also Read: 5 things you don’t know about cryptocurrency markets in India