NEWS & ADVICE : SAVINGS ACCOUNTS
ATM dispenses counterfeit notes
By Vaibhav Aggarwal
Nov 6, 2008
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Today you may not be assured as to who is faking on your currency notes. Now even your bank can give you fake notes so you need to be alert at all times.

Recently an ATM in the Guwahati branch of Axis Bank dispensed counterfeit notes to three customers. All notes were in the denomination of Rs 500.

The Reserve Bank of India has asked the bank to provide details of the incident. However sources revealed that it was not clear as to how the notes were placed inside the ATM. RBI guidelines have directed to seize the notes that would be further destroyed.

Anupam Bora, Head of Axis Bank - Guwahati branch, said that the existence of fake notes in the ATM was some "human error".


Among the three persons who received these counterfeit notes was Amarjit Medhi receiving fake notes worth Rs 19,500 and two others obtaining 10 similar notes, said Mr. Bora.


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