Banks still finding fakes among demonetized notes

AHMEDABAD: More than a year and a half years after demonetization of high-value currency notes was announced on November 8, 2016, banks are still counting these old notes and counterfeits of the old Rs 1,000 and Rs 500 notes are still being thrown up.
Surprisingly, banks are also finding ‘Children Bank’ notes and counterfeits of the new Rs 2,000 and Rs 500 currency notes.‘Children Bank’ notes bear a close resemblance to the new Rs 2,000 notes in the colour scheme and design, except the words ‘Children Bank of India’ replaces the ‘Reserve Bank of India’ that occurs in genuine notes.
The special operations group of city crime branch lodged a complaint about the recovery of 3,747 counterfeit notes of various denominations, with a face value of Rs 13,53,690, from 16 private and nationalized banks in Ahmedabad. An SOG official said private and nationalized banks regularly lodge FIRs for conterfeit currency deposited with them.
“We were shocked when the bank said they found counterfeits of the demonetized Rs 1,000 and Rs 500 note more than a year and a half after demonetization. However, bank officials clarified that counting of demonetised notes is still under way and counterfeits are being found as the process continues. Some 347 counterfeit notes of Rs 1,000 and 600 Rs 500 notes were found at 16 banks,” added a senior SOG official. According to the FIR, among new currency notes, banks found 189 counterfeits of Rs 2,000 and 190 of Rs 500 denominations. “2,258 counterfeits of Rs 100, 155 of Rs 50, six of Rs 20 and two of Rs 10 denominations were also found,” said a senior SOG official.
SOG sources said among the notes found at the banks, some were torn, and others were stuck together with adhesive tape and paper.
“Faded colours are clearly visible on some fake currency notes,” said an official.
Even as banks lodge FIRs every three months for fake notes, cops have not traced a single person responsible for depositing these counterfeits. Officials said they have demanded CCTV footage of the banks for the last three months.
“However, it is very difficult to identify the accused once the notes are deposited in the bank. Banks must be vigilant enough to identify fake currency notes when they are being deposited. This will help us to catch the accused,” added an SOG official.