
In a recent incident, 11 fake notes of Rs 2,000 each were discovered in the currency chest of the State Bank of India (SBI) branch located in Chhipitola, Agra. The fake notes came to light when they reached the Reserve Bank of India (RBI) during the currency chest’s transfer in February 2024.
The RBI Manager has registered a case against the bank officials and employees involved in this matter. The case has been filed at the Rakabganj police station based on the information provided by the RBI Manager, IPS Gehlot, to the Police Commissioner on May 20.
Previous Incidents of Fake Note Circulation
This is not the first instance of fake notes being circulated in the region. In May 2023, a bullion trader from Kamala Nagar had deposited Rs 2.85 crore in the SBI Chipitola Bank, out of which 13 notes of Rs 2,000 each were found to be fake. As a result, the businessman’s son was arrested.
Furthermore, in December 2023, the Sambhal police apprehended a gang involved in printing fake notes of Rs 500 each, amounting to Rs 1.37 lakh. Seven individuals were arrested in connection with this case. The gang members revealed that they circulated fake notes in Agra, Firozabad, and Mainpuri. It was discovered that the gang used printers to produce the counterfeit currency.
Fake Note Printing Gang Arrested
Additionally, around 10 months ago, the police arrested three members of a fake note printing gang. These individuals were printing fake notes under the guise of a Jan Soochna Kendra. The police seized fake notes worth Rs 18,700, along with a computer, scanner, and printer from the gang members.
Fake Note Detection in the Banking Sector
The detection of counterfeit currency notes is a concern for the banking sector. According to a report by the Reserve Bank of India (RBI), during the fiscal year 2022-23, 4.6% of the total fake Indian currency notes (FICNs) detected in the banking sector were found at the RBI, while 95.4% were detected at other banks. In the same year, the RBI reported 78,699 fake Rs 100 notes, 27,258 fake Rs 200 notes, and 9,806 fake Rs 2,000 notes.
Conclusion
The discovery of fake notes in the currency chest of the SBI branch in Agra highlights the ongoing issue of counterfeit currency circulation. It is crucial for banks and law enforcement agencies to remain vigilant and take appropriate measures to combat this problem.