Fake encounters in city banks

Customers return at least three counterfeit currency notes of Rs 500 and Rs 1,000 every day that are withdrawn through transactions

One is unlikely to question the authenticity of money withdrawn from a bank, but in the last fortnight, customers are reportedly returning at least three fake notes in the denomination of Rs 500 and Rs 1,000, which they received via various transactions at nationalised and cooperative banks in the city. Fake notes have also been spotted in the bundles of cash that customers deposit in their accounts.



"On an average, we detect at least three fake notes every day," said Anjali Kulkarni, cash transition officer, Bank of India, Sahakarnagar branch. Some customers are clueless about the fake notes, added Kulkarni.

The bank has installed a special machine worth Rs 14 lakh to identify fake currencies. The situation is similar in almost 3,000 outlets of various nationalised and cooperative banks in the city. "Around Rs 2 lakh worth notes have come to city banks in the past fortnight," said Kulkarni.

Handle with care
Banks have been instructed to increase vigilance while accepting cash deposits. Pradeep Nibandhe, branch manager, Mahesh Sahakari Bank, Karve Nagar branch, said, "We receive around four fake notes every day. We mark them as 'Fake Note' so that they cannot be used," said Nibandhe. According to Nibandhe, these notes have reportedly come into the city from states adjoining the Maharashtra border. The bank spotted a fake note in a money bundle that a customer had withdrawn from Dena Bank, Dhule Branch.

K Harish, currency officer of Axis Bank from Wanawadi branch, said that the bank has received fake Rs 500 notes in huge numbers. "The problem is not only in the city, but also in other branches across Maharashtra," he said.

Smuggling route
DCP Ravindra Sengaonkar, Special Branch, Pune, said, "We have alerted cops at all police stations, but have been unable to pin down the flow of fake currency in the city." According to Sengaonkar, these notes, which are supposedly printed in Pakistan, are transported from Dubai to India.