Fake notes dispense through ATMs
RBI issues instructions to banks to ensure that counterfeit banknotes are not dispensed through ATMs.india Updated: Jan 08, 2007 17:03 IST
The Reserve Bank of India has issued instructions to banks to ensure that counterfeit banknotes are not dispensed through ATMs, following complaints.
The central bank said it had issued instructions to banks to ensure that under no circumstances forged banknotes got dispensed through ATMs or across exchange counters.
In a public notice issued on Monday, RBI said it had received a few complaints from people that counterfeit notes had been received by them through ATMs.
RBI also advised the public to check banknotes received by them for their genuineness.
In August last year RBI had issued an updated circular on detection and impounding of counterfeit banknotes.
In the circular, it had instructed banks to stock their ATMs with good quality genuine notes and had said disbursement of counterfeit banknotes through ATMs would be treated as an attempt to circulate the forged notes by the bank concerned.