Fake Currency Found in Canara Bank in Etah branch

Recently, five counterfeit Rs 100 notes were discovered in the Etah branch of Canara Bank. This discovery was made by an RBI officer from Kanpur who was investigating the matter. The situation has raised serious concerns about how bank employees handle currency, as these fake notes somehow ended up in the bank’s vault without anyone noticing.

Here’s a breakdown of what happened:

1. The Discovery: On July 18, 2024, Shreya Kumar, the nodal officer from the Reserve Bank of India (Kanpur Branch), and her team visited the Etah branch of Canara Bank to check for counterfeit notes. During their investigation, they found five fake Rs 100 notes in the bank’s currency vault.
2. The Investigation: The fake notes were sent to a forensic lab for examination, which confirmed they were indeed counterfeit. This discovery was troubling because it means that fake currency had made its way through the bank’s systems without detection.
3. The Reaction: Following the discovery, a report was filed against the bank at Kotwali Nagar police station. The report emphasizes the seriousness of the situation, as handling and circulating fake currency is a significant crime.
4. Bank’s Response: Sunil Kumar, the lead manager at the Etah branch, stated that he was not aware of the situation until now. Since it’s currently a holiday period until Monday, he mentioned that further details will be available only after the bank staff return and gather more information on Tuesday.
5. Future Steps: The RBI has issued strict instructions to ensure such incidents do not happen again. The bank is now required to either set up a forensic science laboratory for examining notes or arrange to send the currency to one.

This situation has not only highlighted issues with how currency is managed inside banks but also underscores the need for better systems to prevent counterfeit notes from circulating. As the investigation continues, it will be crucial to see what measures will be implemented to improve the handling of currency in banks.