Have you got fake banknotes from bank ATM; here’s what you can do

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Have you got fake banknotes from bank ATM; here’s what you can do

In recent times, the Reserve Bank of India (RBI) has either introduced new notes or has given a complete makeover to the existing ones. Since demonetisation, two new banknotes have been introduced namely Rs 2,000 and Rs 200, while makeover is given to existing notes like Rs 500, Rs 10, Rs 50 and now the central bank plans to issue new Rs 100 banknotes too.

Fake banknotes in bank ATMs are a clear and present danger especially with the latest upgradation and old notes still circulating, it creates high chances of account holders being duped. Much evidence has been revealed in past where criminal groups have used fake currency to earn massive amounts, leaving the innocent people in big trouble.


In case you have received fake notes from bank ATMs, here’s what you can do about it.

1. If you receive a fake note from a Automated Teller Machine (ATMs), then you can point the defect in front of the camera stored in the ATM.

2. Check with the guard and file a complaint, pointing out the same.

3. After having a clear confirmation on the currency you are carrying is fake, then you should go to the bank of which the ATM belongs to and show them the printed receipt along with the counterfeit notes.

4. If more proof required then push them for CCTV footage of ATM.

5. Remember to get an acknowledgement receipt from bank and ask them to file an FIR.

According to RBI guidelines, when a banknote tendered at the counter of a bank branch/back office and currency chest or treasury is found to be counterfeit, an acknowledgement receipt in the prescribed format  must be issued to the tenderer. The receipt, in running serial numbers, should be authenticated by the cashier and tenderer.

6. RBI has even asked banks to circulate notice to this effect should be displayed prominently at the offices / branches for information of the public. The receipt is to be issued even in cases where the tenderer is unwilling to countersign it.

7. For cases of detection of counterfeit notes upto 4 pieces, in a single transaction, bank will give you an acknowledgment copy and a consolidated report in the prescribed format will be sent by the Nodal Bank Officer to the police authorities or the Nodal Police Station, along with the suspect counterfeit notes, at the end of the month.

8. If 5 or more pieces are detected  in a single transaction, then the counterfeit notes should be forwarded by the Nodal Bank Officer to the local police authorities or the Nodal Police Station for investigation by filing FIR in the prescribed format.

Banks are asked to  monitor the patterns / trends of such detection and suspicious trends / patterns should be brought to the notice of RBI /Police authorities immediately. Therefore, if a bank refuses to take any action then next possible action is to contact RBI in the matter.



Source:- zeebiz