Banks responsible for fake currency from ATM: RBI

Jammu, Aug 16 (UNI) The Reserve Bank of India (RBI) today said here if any customer finds a fake currency note from any ATM, the bank concerned shall be held responsible and liable to refund the money.

Talking to mediapersons Regional Director RBI, Jammu and Kashmir, O P Agarwal said banks would be held responsible for fake currency found from their ATM and customers should inform the bank authorities as soon as possible along with the ATM receipt and a witness, if possible.

All the banks have been informed to display an instruction sheet within the premises and the ATM counters in this regard, Mr Agarwal informed, adding a few cases were reported in the past where customers complained about fake currency notes being distributed through ATM's, with banks refusing any accountability.

The RBI Director refuted the reports regarding the shortage of coins and said sufficient coins were available in all the branches in the state.

UNI