Detection and Impounding of Counterfeit Notes
The Reserve Bank of India (RBI) has issued a master circular outlining the procedures for detecting and impounding counterfeit notes.
Authority to Impound: Bank branches and currency chests are authorized to impound counterfeit notes.
Detection: Counterfeit notes are to be detected using ultra-violet lamps and other infrastructure provided by the RBI.
Impounding: Impounded notes are to be kept in a separate pouch and a receipt issued to the tenderer.
Reporting: Detection of counterfeit notes is to be reported to the police and other relevant authorities.
Examination: Banknotes are to be examined before being issued over counters, fed into ATMs, and remitted to RBI issue offices.
Nodal Officer: Each bank is to designate a nodal officer to oversee the detection and impounding of counterfeit notes.
Vigilance Cell: A forged notes vigilance cell is to be established at the head office of each bank.
Reporting to RBI: Banks are to report data on counterfeit notes to the RBI.
Preservation: Counterfeit notes received from police authorities are to be preserved.
Training: Bank staff are to be trained in the detection of counterfeit notes.
Chat with the Master Circular:
Download: Master Circular – Detection and Impounding of Counterfeit Notes