Fake INR Notes in Automated Teller Machine(ATM).

Fake INR Notes in ATM
22nd July,2009 Aditya Bikram Singh



On 20th July, it is reported by a person of Nellore in Andhra Pradesh that he has received fake notes from the SBI ATM. There are reports from some of the other places also. The RBI has issued the following guide lines in this respect to the all banks.Reserve Bank of India (RBI) has reported that few instances of counterfeit currency being dispensed through ATMs has come to their notice.

To protect customers and depositors interest, various steps have been taken by Government/ RBI, which include, issue of directions/guidelines to banks as follows.

(i) To disburse only sorted and genuine notes over their counters and through ATMs.

(ii) Note Sorting Machines to be installed at all the currency chest maintaining branches and 210 non chest branches to enable banks to detect counterfeit notes at the entry level.

(iii) To establish Forged Note Verification Cells at the Head Offices of the Banks to take effective steps to deal with counterfeiting.

(iv) To impound the counterfeit notes and lodge FIR with Police Authorities.

Further, the Reserve Bank of India has also been conducting training programs for employees/ officers of banks and other organizations handling large amount of cash. RBI has also been popularizing the security features of the bank notes through its website, posters displayed at branches of the bank etc. A film depicting the security features of a genuine note has also been released in theatres besides being exhibited by Regional Offices of RBI at various exhibitions, bus stations/railway stations etc.

This information was given by Minister of State for Finance, Shri Namo Narain Meena in written reply to a question raised in Rajya Sabha.


*This article is a work of Mr. Rao in the section Knowledge Sharing.