Many of us welcomed the recent demonetisation drive and assumed that the problem of FICN or Fake Indian Currency Notes will go away for a good period of time. However, since the new currency notes were not known to everyone, some anti-social elements used high-quality printing machines to print fake notes and circulated them. While the law did catch up with many; the recent case of SBI ATM dispensing fake Rs.2000/- notes showed how vulnerable our system really is.
So, what if you end up with a fake currency note either from an ATM or during a cash transaction? Well we tell you how you can handle the situation.
If you realise you have withdrawn a counterfeit/fake note
In case someone gives you a fake note:
This is the most depressing situation, because no bank will take any responsibility or give you money in return for the fake note. Thus, the only recourse is tp inform the nearest police station or magistrate office on finding a fake note.
IMPORTANT TO NOTE: DO NOT TRY AND re-circulate the fake note, because if you are caught doing so, the repercussions could be huge. Knowingly circulating fake currency notes is a punishable offense under the law.
Issues that may still arise:
Thus, these are the precautions to take to avoid getting into this situation
Related: Do you know your Rs.500 note?
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