Overall cash movement to be monitored

Election officials and the police will have to grapple with circulation of counterfeit currency in the district. With elections round the corner the police have stepped up efforts to stop huge flow of cash from outside the district.

Seized

A few months ago huge quantities of fake currencies were seized from four persons in the district. Some of their accomplices are yet to be arrested.

Besides, counterfeit notes were found in a bunch of notes sent by Canara Bank branches at Perumanallur and Avinashi to the chest branch.

Banking sources told The Hindu that lack of availability of advanced note sorting machines in many bank branches in the district made tracing forged notes coming in high print quality extremely difficult.

“Despite repeated instructions given at the meeting of the district level security committee on banking affairs, many banks are still not following the RBI guidelines on the matter in letter and spirit,” senior bank officials said.

Transactions

District Collector C. Samayamoorthy told this paper that banks had been asked to inform the district administration on all high volume transactions during the election time.

“This is to keep a keep a tab on overall cash movement and thereby ensure that electors were not paid for the votes cast,” Collector Samayamoorthy said.


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