What will happen to fake currencies circulating after Rs 500, 1000 Ban in the market?

Fake Currencies currently under circulation by fake circulation rackets will not be able to exchange them at banks. We are not sure as to how the banks are going to handle fake currencies during the days between today and December 10, 2016. People may be queuing up banks and post offices to tender their old notes in their savings account or to exchange them as lower currencies of Rs. 10, 100, 20, 50 and coins of Rs. 5, 10.

Rs 500 & 1000 Ban in India

Apart from this, we are not sure as to whether government has taken necessary actions to destroy fake rackets in the country and internationally or they have decided not to touch or care about old fake currency rackets as new NGT currencies are to be circulated. Fake currency rackets can be expected to keep their tails hidden or tied tight for few days to few months. Maybe in future, we may not know whether there are currency rackets would do harm by circulating fake currency of NGT Currencies.

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