Banks issuing Fake notes.. what can we do ?

Question

Yesterday i withdrawed some cash from ICICI bank from teller - not from ATM - and since i didnt need to use it by evening i went back to deposit it.. While accepting money, the bank person identified that one 500 Rs note is fake. The next step is to call police and file FIR. In fact that note bundle was given by same bank on same day itself.. But bank is not ready to accept it , and the reason they are saying is that bank will never issue fake notes and that i can replace a note in the bundle before remitting it back.. Finalyy they tore the note and gave me back and end reslult is i lost Rs.500/- Can any one help me to know that whether there is any law that will help the customer in such cases.. Individuals may not be able to identify fake notes in a bundle and same may happenagain.. what step can we take to avoid such situations further ?

Answer 1

Thank god you lost only Rs500/- not the whole money, had this matter reported to police you would have been in trouble a FIR against you would be logged for depositing fake currency note in the bank not the bank employee giving it to you. Had you reported this matter in the morning to the police when you received the cash from the bank, your FIR would be logged against the bank & its employee. The law is very clear who gives the forged currency is to be blamed for caring it or using it not against who receives it. So next time be care full when you collect any cash, follow the instructions regarding the forged currency note that is displayed in all the major banks if you find any such currency note return it on the spot , don't carry it with you.

Answer 2

This is a very serious problem. Banks may disown their liabilities. I personally had drawn the attention of RBI authorities. Unfortunately, they are yet to even acknowledge my letter. Anyway, I would suggest you to IMMEDIATE call on the Police Station, File an FIR incorporating the NUMBER OF THE NOTES which have been found to be fake ones. The burning problem is that, the customers hardly can know which Note is a fake one. The customers also do not take those money to the market immediately but on the following date of latter. As per law, the possessor of the fake notes will be guilty. The RBI should immediately sort out this problem. Before going to Ombudsman, you should - file an FIR, write to the Top authority of the Bank, enclosing a copy of the FIR, and send it under Regd.Post with A/d. If no action is taken within 15 days time, then only you should move to the Ombudsman - writing details to his Office and enclosing all the relevant papers (i.e., FIR copy, copy of letter addressed to the top authority of the Bank, etc).

Answer 3

bank tellers ofter try to pass on fake notes that they have accepted by mistake to unsuspecting customers , this is because the teller is made to pay from his pocket incase a fake note is detected . however she/he will never admit to the same . as a customer all u can do is to count each note carefully before leaving the cash counter as till u are at the counter u can claim the note to be fake if u find it .once u leave the counter no claim of yours will be entertained. you can approach the banking ombudsman with your plea but since u donot have any substantial proof that u were given a fake note i donot know if u have much of a case .

Answer 4

It seems that banks are very much worried about fake currency .The same care has to be taken by the bank authorities both at the time of deposit and withdrawl.
Just try to differentiate between original and fake currency. From nowonwards,bring to the notice of bank authorities if at all you find any fake currency in the bank premises only!

Answer 5

You can enforce the law which the bank tried to enforce on you provided you caught them the same way they caught you.

The onus of proving that the note came from the bank lies absolutely on you, because you are in possession of the fake note.

Answer 6

they might desire to offer you adequate evidence that the observe grew to become right into a forgery. A photocopy of the bill isn't adequate. once you're in charge for the money you're depositing, they might desire to offer you a extra good reason in the back of denying the transaction. they might't request which you deliver them yet another observe to cover the deposit, yet they might alter the deposit to mirror the real volume of money deposited. Ask to talk with a supervisor, and if that person can not satisfactorily clarify the technique for correcting a suspected fraudulent transaction, then pass greater and ask to talk to a district rep.

Answer 7

Reach out to bank ombudsman on given link:

http://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=164

and seek help.

Answer 8

sounds like your talking ringits,probably given to the bank by the Javanese as you would know,all living on gaya island,afraid not much you can do.the illegals as you know are very good when it comes to pickpocketing as well.relieving many tourists of their wallets

Answer 9

take the matter to some news paper.