Bank to compensate if ATM dispenses fake currency
By Ankit Sharma
Jan 30, 2012
Print    Email    RSS   

There are often complains about the fake currency dispensed by the ATMs. Such a situation be troublesome for the customers but now there is a concrete solution for such a situation.

Under any such instance the bank will be held responsible and it will have to compensate the customer.

The Joint Secretary of Cyber Society of India, Mr. S. N. Ravichandran said, "Banks cannot wash off their hands on the issue of fake notes dispensed by their ATMs and they are liable to compensate their customers. The customers should lodge a police complaint immediately on coming to know about the fake notes from an ATM."

He further said, "The police should book the chief executive of the bank as well as that of the third party agency that refills the machine with cash. If that happens, fake currency in ATMs would vanish."


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

How Your Credit Card Can Help To Improve...
Carnival of Indian Personal Finance Blogs #1
How to select a co-branded credit card?
Avoid withdrawing cash from your credit card
Multi-currency card- A hassle-free...

Good Morning, i forgot my FCMB Account Number and...
Radhey@09646870399 @Escoℛts In#Chandigarh...
Radhey@09646870399 @Escoℛt In#Chandigarh...

91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive