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The Special Operations Group seized counterfeit currency worth Rs 43 lakh from a flat in Jaipur’s Narayan Vihar area on Friday evening, arresting two men. Officials said the fake Rs 500 notes carried advanced security features, suggesting an organised network operating across states.

Rs 43 lakh in counterfeit currency seized in Jaipur; two arrested after SOG raid

According to the Reserve Bank of India guidelines, if you have received a fake note in a transaction, and do not remember where you got it from, you need to inform the bank or the police. Circulation of counterfeit currency is a punishable offence under Section 489A of the Indian Penal Code (IPC).

Money Tips: How to identify a fake currency note? Where should you report it?

A court in Maharashtra's Thane district has sentenced a man to seven years' rigorous imprisonment for possessing counterfeit currency notes with a face value of Rs 1.75 lakh.

Maharashtra: Man gets 7 year rigorous imprisonment for possessing counterfeit notes

A recent report has revealed that since people are extra cautious in taking high-denomination banknotes like that of Rs 2000, these gangs have shifted their focus on to small notes like Rs 50.

Fake Rs 50 new note in your pocket? Spot fraud now with this!

The new currency notes introduced post demonetisation failed to keep a check on fake or counterfeit notes.

Did you just get a fake Rs 500 note? Beware! Check now

Money has lost its 'anonymity' after demonetisation, says FM Arun Jaitley