Fake Rs.100 Notes Sent from SBI Currency Chest to RBI Kanpur, Police Launch Investigation
Hathras, Uttar Pradesh: Fake currency notes have been received at the Reserve Bank of India (RBI) from the currency chest of the main branch of State Bank of India (SBI).
In December 2022, a large amount of cash was sent from the currency chest of SBI’s main branch in Hathras to the Reserve Bank of India in Kanpur.
During an inspection of the cash, the RBI’s Issue Department (Claims Section) reportedly found a large number of counterfeit ₹100 notes. RBI Kanpur Manager Praneet Pinjarla lodged an FIR in this case.
How fake notes not discovered at SBI?
A big question is – Why SBI could not detect fake notes. Why fake notes were discovered in RBI?
SBI also has the necessary machines to count cash and detect counterfeit notes. However, the fake notes were still not detected at the SBI branch. This may mean that the concerned staff member did not perform the duty carefully, was working under heavy pressure, or the cash-counting and counterfeit detection machine was not functioning properly.
Bank branches often face huge work pressure, and cashiers have to work quickly to complete transactions on time. Due to the heavy footfall at branches, it can become difficult for bank employees to ensure complete compliance with every guideline while handling a large number of transactions. Banks and the government must look into this issue and take necessary steps to reduce work pressure and strengthen cash-handling systems.
