Fake Notes

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After Fake Notes, Notes Without Serial Number Found Dispensed From MP ATM. And A New Fake Note Racket In Bangladesh

The Logical Indian

February 28th, 2017

SHARES

Source: timesofindia Image Source: freepressjournal 

The fake note menace continues to haunt ATMs of India. Just a few days after a SBI ATM had dispensed fake Rs 2,000 notes, more notes without serial numbers were dispensed from an ATM in Damoh district in Madhya Pradesh.

On Monday, the SBI ATM had in Damoh dispensed new Rs 500 notes without serial numbers. The police were informed and the  ATM was sealed after two residents of the district had withdrawn two Rs 500 notes each and none of the notes bore serial numbers. There were two similar cases in Damoh last week. The bank told the complainants that it was not possible to exchange the notes immediately, and those facing the issue have to file a complaint with the bank.

Last Thursday, a jeweller named Arvind Gupta claimed that the SBI ATM in Shahjahanpur, Uttar Pradesh, dispensed a scanned Rs 2,000 note when he withdrew Rs 10,000 from the machine.

Mr Gupta told Times of India, “Of these, one note, with serial number 5 DN 029593, was clearly counterfeit. The paper was not the type on which currency notes are printed. On exiting the ATM and holding the note up to the light, I could clearly see that it was not genuine and appeared to have been scanned from a genuine note and then printed.”


Image Source: ibnlive


He wanted to report the incident to the concerned authority, but the bank next to the ATM was closed. A staff, who was present at that moment, asked Mr Gupta come the following Monday.

The others who were standing in the queue joined Mr Gupta who staged a protest and created a ruckus. The police had to be called. The crowd wanted an inquiry into how the fake note reached inside the ATM. Gupta later filed a complaint to the sub-divisional magistrate of Jalalabad and the station officer of Jalalabad police station.

The bank manager JP Chandel has refuted Gupta’s allegations. “All the currency is refilled by our own staff. Gupta seems to have found just one note. Why would someone risk their job for just Rs 2,000? It seems to be an attempt to put some sort of pressure on the bank and its staff.” Chandel said.

A 27-year-old man was arrested in connection with the case of Delhi’s Sangam Vihar area where an SBI ATM dispensed notes of Rs 2,000 with “Children Bank Of India” written on them. The accused was given the responsibility of custodian of the cash at the time it was being placed in the ATM. He is an employee of Brinks India Pvt Ltd which is responsible for placing cash in ATMs. The notes had “PK” written on them in place of the RBI stamp and the top left corner had “Bharatiya Manoranjan Bank” written instead of Reserve Bank of India.


Image Source: ibnlive


Fake notes printed on Bangladesh Stamp Paper

The BSF recently found that Bangladesh stamp paper — printed only in government presses — was used for counterfeiting Indian notes that were smuggled in bulk into the country through Bengal after demonetization. The fake Indian currency notes (FICN) printed on stamp paper were of ‘good’ quality and these copied most security features of the bonafide currency.

The BSF has already sent a report from Bengal to its headquarters in Delhi warning them of the discovery.

It has been found that people from Bangladesh manufacture counterfeit notes and sneaks them into India, mostly through Malda in West Bengal. The stamp papers are of better quality, though a little bit thicker than the paper used earlier. It prevents the ink on one side to create an impression on the other.

Post demonetisation, there was a speculation that the move would stop the circulation of fake notes. But we are seeing newer ways are being employed to bring fake notes into circulation.

The Logical Indian urges the government to take harsh measures against the people responsible for such instances. This, we hope will deter others from doing the same.

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