Wednesday, September 3, 2014

Fake Currency Notes: What to do???

Nothing. Just go to the bank and deposit it, it will give you genuine notes!

Recently one of my colleagues deposited Rs. 5 lakhs cash in the bank account and 4 notes of 500 denomination were found counterfeit. The bank called the police, the police took the possession of the fake notes, and then demanded Rs. 5,000 extra, otherwise the person was to be registered with a police case of possessing fake currency notes.

After a call from a member of parliament, the police inspector's demands were reduced to Rs. 2000. "Paise toh main le ke jaaunga",  he declared!. Only after a call then from an SSP that the matter was resolved, but the fake currency notes were torn in anger by my colleague by then, which were returned to him by the police.

Well, now read the news below, now no police case, the bank will give you genuine notes in exchange of the counterfeit currency.

Neither the bank, nor the police, nor my colleague had any idea of this. I just wished that my colleague had had internet in the phone at that time!! phew!

Times of India:

The Reserve Bank of India (RBI) on Friday directed banks to accept all fake notes over the counter from customers and pay them back the full amount.