FIR against bank for accepting fake notes during demonetisation

Complaint filed by regional office of RBI in Kanpur

The Ghaziabad Police have registered a First Information Report against the Modi Nagar branch of Punjab National Bank for allegedly depositing fake currency notes during demonetisation.

The police have registered a case on the basis of a complaint filed by the regional office of the Reserve Bank of India in Kanpur.

Prime Minister Narendra Modi had announced demonetisation of old ₹500 and ₹1,000 currency notes in 2016 .

“The regional office of the Reserve Bank of India in Kanpur has complained that Punjab National Bank, Modi Nagar branch, deposited fake currency with a face value of ₹34,500 during the note ban. Of the total, 33 old ₹500 currency notes and 18 ₹1,000 notes were found to be fake. We have set up a team to investigate the matter,” said Hari Narain Singh, Senior Superintendent of Police, Ghaziabad district.

However, the branch manager said their machine had failed to detect the alleged fake notes.

“Following the demonetisation announcement, banks were overcrowded and the staff overworked. People would stand on our head to get their work done. The staff was inexperienced and new, and failed to detect the fake currency notes. Even our machines failed to detect the fake notes. The RBI has advanced machines compared to ours. An enquiry has been set up and we will cooperate with the police,” said Samar Singh, branch manager, Punjab National Bank, Modinagar, Ghaziabad.

The RBI had received ₹349 crore in demonetised currency from all the Punjab National Bank branches in Ghaziabad.

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Printable version | Jun 6, 2020 4:43:05 PM |

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