A study on Fake Indian Currency Notes (FICN) issues, including estimation of FICN in circulation, has been undertaken by Statistical Institute (ISI), Kolkata under the overall supervision of National Investigation Agency (NIA). As per the study, the face value of FICN in circulation was found to be about ₹ 400 crores. It was found the value remained constant for the last 4 years. As per the data from National Crime Records Bureau, number of seized and recovered FICN is as follow 

	Number of Notes seized and recovered
Financial Year	₹ 1000	₹ 500	₹ 100	₹ 50	Others
2013	194767	429757	185865	13043	23535
2014	175488	334681	188973	8067	3340
2015	178022	299524	217189	7702	3134

 The Committee headed by Shri Shilabhadra Banerjee has submitted its report. The design and security features of banknotes are decided by the Government of India from time to time, in consultation with Reserve bank of India (RBI). A post of Director General in the rank of Additional Secretary in the Directorate of Currency has been created.

To check the menace of counterfeiting of banknotes, The Ministry of Finance, Ministry of Home Affairs, Reserve Bank of India, Security and Intelligence Agencies of the Centre and States are working in tandem to thwart the illegal activities related to Fake Indian Currency Note (FICN). An FICN Coordination Group (FCORD) has been formed in the Ministry of Home Affairs to share the intelligence/information amongst different security agencies of States/Centre to counter the menace of agencies to effect more seizures. The issue has also been raised in international multilateral fora constantly. RBI has also initiated several measures for generating public awareness, conducting training programs for employees/officers of banks and streamlining the process of reporting and detection of counterfeit notes. Further, in order to stay ahead of the counterfeiters, Government has recently introduced revised numbering pattern in all denominations of banknotes. RBI has issued Press Release in this regard on June 25, 2015.

This information was given by Minister of State for Finance Shri. Arjun Ram Meghwal in written reply to a Lok Sabha question.

Counterfeit currency prevention strengthened via interagency coordination, enhanced banknote security features and revised numbering pattern. A government-supported study estimated the face value of Fake Indian Currency Notes (FICN) in circulation at about Rs. 400 crores and NCRB data provided annual counts of seized and recovered notes by denomination. The Government, in consultation with the Reserve Bank of India, decides banknote design and security features and has created a Director General post in the Directorate of Currency. To combat counterfeiting, central ministries, RBI and security agencies coordinate via an FICN Coordination Group for intelligence sharing; the RBI has implemented public-awareness, training, reporting measures and a revised numbering pattern across denominations.