NEWS & ADVICE : PERSONAL LOAN
SBI Shegaon branch seizes fake currency
By Vaibhav Aggarwal
Jul 20, 2009
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The Shegaon branch of State Bank of India, Buldhana district has filed a complaint under section 489 (A) (B) and (C) of IPC against 26 fake currency notes of Rs 500 denomination received by the branch from unknown persons.

It is believed that the depositors parked their fund with the bank for some time before May 20.

The bank officials suspected the notes and send the same to security press at Nashik for verification, where these were confirmed to be counterfeit.

Bankers suspect local traders to be involved in the transgression. But the perpetrator has not yet been traced.

The number of fake currency cases has increased in recent past. Counterfeit currency has also been found in circulation in Jalgaon Jamod, the taluka place of Buldhana district.

It is alleged that these notes were smuggled in from Hyderabad and other cities in Andhra Pradesh.

Recently, the central bank had set a drive to counteract the circulation counterfeit currency in the system.

 


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