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Fake currency notes dispensed through ATMs

Written by: Staff

New Delhi, May 12: The Minister of State for Finance Pawan Kumar Bansal told the Lok Sabha today that the Government has received complaints regarding distribution of fake currency notes by ATMs in the country.

Mr Bansal, in a written reply in the Lower House, said during the year 2005-06, the Reserve Bank of India has received complaints of fake currency notes dispensed through ATMs of ICICI Bank's Karunagapally branch and an HDFC Bank branch in Kolkata.

He said the RBI have issued instructions to banks on December 7, 2005 and on March 28th, this year to put in place adequate safeguards to contain the menace of counterfeit banknotes. The RBI has also taken up the matter with the Chairmen/CEOs of the banks where the counterfeit banknotes were dispensed through ATMs, he added.


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