Breaking News
Nagaland Post Logo
You are here:  Skip Navigation LinksHome » Show story
The crux of fake notes in circulation
Staff Reporter DIMAPUR, AUG 3 (NPN):
Published on 4 Aug. 2009 12:54 AM IST
Print  Text Size

A customer of SBI (main branch), Dimapur, withdrew some amount of money on July 1, 2009, against a cheque however he was in for a rude shock when one of the note in 1000 denomination (bearing serial number 2AQ 584087) which was in the bundle, was out rightly rejected by another bank stating that it was a fake. The victim immediately lodged a compliant with the bank from where he withdrew his money but the cashier and cash officer rejected the plea by stating that once cash was accepted the bank is not responsible anymore. This case is just a tip of the ice-berg which has been affecting many people everyday. It may be mentioned that the RBI has warned that fake Rs 1000 notes in 2AQ and 8AC series are in circulation in the country. While asking the banks to be careful while dealing with these two series, it also confirmed that all notes in these series are not fake. A senior police official of Dimapur informed that till date no serious cases relating to fake notes were detected. However, he admitted that stray incidents have been recorded. He also informed that a case of fake note worth Rs 1000 was under investigation since last year. A senior official of SBI quipped that the bank was taking adequate measures to load its ATMs with genuine currency while other banks also maintained that they follow the RBI guidelines on the issue. He also admitted if there is a collusion with the bank employees, nothing could be done. Many customers have lost cash in this manner as they preferred not to complaint or else face probe for possession of fake notes. Many customers have also complained of discovering fake notes through ATMs. As per procedure, when any complaint of fake note is brought to notice, the banks have to lodge an FIR with police, which would investigate the source of the fake currency. Once probe begins the person making the complaint could end up not only losing money but even facing the prospect of harassment through investigation and worse, even jailed if he or she cannot prove the claim “Legally, you are not supposed to possess fake currency notes. Otherwise, you will need to explain from where you got them. If you can’t, you may be detained for questioning,” said a senior police officer. Official figures also indicate that at present, the highest number of counterfeiting is found in Rs 100 notes followed by Rs 500. Incidentally, bank ATMs in India generally use these two denominations, making users vulnerable. How to detect fake notes: There are several ways to detect a fake note like through the Optical Variable Ink which changes the colour of the numeral 1000 to green when the banknote is held flat but would change to blue when the banknote is held at an angle and also reduced the font size. While in the latent image, when the note is head horizontally, the vertical band on the right shows an image of the number 1000. Security Thread -the note also has a three millimeter wide security thread with the inscriptions: one thousand, the word ‘Bharat’ in Hindi and RBI. The ‘RBI’ and the numeral, “1000” in micro lettering which can be viewed with the help of a magnifying glass, are between the Mahatma Gandhi portrait and the vertical band. Lastly the watermark which shows an electrolyte mark of the number 1000 in the white space when the note is held against the light on the picture of Gandhi.

Comments:(0) Login or Register to post your Comment
(Available for registered users only)
More News
  • 1
  • 2