Ten Years After Demonetisation: Decline in Fake Currency but Cash Circulation Rises
Ten years after demonetisation, India has seen a significant decline in counterfeit currency detection, with RBI data showing a drop from 70.1 fake notes per crore in 2015-16 to 13.4 in 2025-26. Despite a surge in digital payments, cash circulation has more than doubled since 2016, returning to pre-demonetisation levels relative to GDP. While demonetisation aimed to curb black money and counterfeit notes, its long-term impact on reducing cash dependency remains debated, with some experts noting limited gains.
First-hand measurement across 4 sources
We measured how 4 outlets covered this story. Coverage leans balanced overall (Left 0%, Centre 52%, Right 48%). Overall sentiment is neutral (57/100). Lens Score 47/100.
Outlets measured: businessstandard, businessstandard, scrollin, thehindu. See how each one headlined and framed the same story in the source comparison below.
AI Analysis
All 2 outlets scored close to centre on political lean. The real divergence here is in emphasis, not lean — compare the headlines below to see how each outlet chose to frame the same facts.
Sentiment ranged widely across outlets — from 22/100 to 52/100 — a sign the coverage itself was contested, not just reported.
Coverage timeline
thehindu broke this story on 7 Nov, 11:41 pm. Other outlets followed.