2k Fake Currency Notes Found in 16 Banks, BFSI News, ET BFSI

Ahmedabad: As many as 1,904 counterfeit notes in various denominations were deposited in 17 different banks in the city. The counterfeit notes, with a face value of Rs 7.29 lakh, comprised denominations including Rs 2,000, Rs 500, Rs 200, Rs 100, Rs 50, and Rs 20. A case was registered after the banks, including the Reserve Bank of India, reported the incident to the authorities.

The Detection of Crime Branch registered a case against unidentified persons and launched an investigation into the case.

Police head constable Kamlesh Manilal, from the special operation group of the crime branch, filed a complaint on behalf of the state government under Sections 498 (B), 498 (C), and 120 (B) of the Indian Penal Code relating to the use and possession of forged or counterfeit currency, and criminal conspiracy.

The complaint states that of these 1,904 fake notes, 98 were of Rs 2,000 denomination, 827 were of Rs 500 denomination, 258 of Rs 200, 658 of Rs 100, 59 of Rs 50 and four notes of Rs 20 denomination.

The majority of the banks affected were private and public sector banks, stated the complaint. It stated that RBI had received 70 counterfeit notes, of which three were of Rs 2,000 denomination, five of Rs 500, six of Rs 200, 55 of Rs 100 and one of Rs 50.

The complaint stated that HDFC Bank received 634 counterfeit notes, ICICI Bank 583, and Axis Bank got 368 notes. Other banks received less than 100 notes.

The complaint stated that some deposited notes were torn, pasted with papers or tapes, or mutilated dummy notes from children’s toy sets. Additionally, some notes were found to be photocopied. The authorities suspect that these actions were intended to damage the economy and harm the financial stability of the country and the state.

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