Beware! 5 ATMs dispense fake Rs 2,000 notes. Here's how you can check if the note is fake
Thursday, April 4, 2019 IST
RBI has instructed banks to create proper safeguards and checks to ensure that ATM machines are not loaded with fake or soiled currency notes. Here's how you can check whether a note is fake or real.
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New Delhi: In a recent audit conducted by a company, fake notes worth Rs 4.26 lakh were recovered from five ATMs of a private bank in Lucknow. The bank reportedly received complaints from customers that its ATMs were dispensing fake Rs 2,000 notes. The bank then asked the company to conduct an audit.
The incident was reported by Times of India. The report cited the police saying that the audit company has tie-ups with several banks to refurbish ATMs. All ATMs of the bank were examined for 20 days during which around 213 fake 2,000 notes were recovered from five ATMs located in Jankipuram, Sarojininagar, Kalyanpur and Daliganj.
Several such incidents have come to light in the past couple of months. A lot of people do not check whether the notes dispensed from an ATM are real or fake as the chances of ATM dispensing fake currency notes is extremely low. However, with an increase in such cases, people should always check and immediately report the issue in case fake notes are dispensed.
The Reserve Bank of India (RBI) has instructed banks to create proper safeguards and checks to ensure that ATM machines are not loaded with fake or soiled currency notes. However, there are chances of a person getting a fake note from the ATM machine. In July 2013, RBI issued a directive designed to detect and remove fake notes from circulation.
Here's how you can check whether the note is real or fake:
Worth mentioning here is that to encourage people to hand fake notes over to the banks, the directive directs banks to accept the notes and reimburse the value; however, the guidelines were not rigid. If a person submits a fake note in the bank, an FIR is registered but since banks and customers do not want to deal with FIRs, fake notes sometimes go unreported.
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