BANKING AFFAIRS

Detailed explanation-1: -5.2 For cases of detection of Counterfeit Notes of five (05) or more pieces in a single transaction, the Counterfeit Notes shall be forwarded immediately by the Nodal Bank Officer to the local police authorities or the Nodal Police Station for investigation by filing FIR in the prescribed format (Annex IV).

Detailed explanation-2: -Failure of the banks to impound Counterfeit Notes detected at their end will be construed as wilful involvement of the bank concerned in circulating Counterfeit Notes and penalty will be imposed. Notes determined as counterfeit shall be stamped as “COUNTERFEIT NOTE” and impounded in the prescribed format (Annex I).

Detailed explanation-3: -No credit to customer’s account is to be given for Counterfeit Notes, if any, detected in the tender received over the counter or at the back-office / currency chest. In no case, the Counterfeit Notes should be returned to the tenderer or destroyed by the bank branches / treasuries.

Detailed explanation-4: -Write your initials and the date in the white border areas of the suspect note. Limit the handling of the note. Carefully place it in a protective covering, such as an envelope. Surrender the note or coin only to a properly identified police officer or a U.S. Secret Service special agent.