Too many fake ₹500, ₹1,000 notes in circulation: RBI Guv
RBI Governor Urjit Patel on Tuesday clarified that old ₹500, ₹1,000 notes were discontinued because there are too many fake notes in circulation. He added that there has not been any breach of security features on the currency notes. He assured that production of lower currency denomination notes has been ramped up to meet the requirement.