Parrikar attacks RBI for not controlling fake notes

PTI, PANAJI | 01 July 2012 21:11 IST

Goa Chief Minister Manohar Parrikar has said the Centre has failed to take effective steps to curb circulation of fake currency notes in the Indian market with the initiatives being spoilt by neighbouring Pakistan.

"Whatever Reserve Bank of India pumps in (genuine currency) is flushed out by Pakistan.

There is a massive influx of duplicate notes in the market," Parrikar told an annual general body meeting of Goa Chamber of Commerce and Industry (GCCI) in Panaji last evening.

Parrikar said he was making this statement responsibly, "after knowing the actual facts".

"In most of the cases where banks find duplicate notes, they don't report it to the police because the cops arrest the holder of the note. They usually cross the note (with pen) and give it back to the customer without accepting it," he said.

The chief minister said that he had brought the issue to the notice of the Union Home Minister P Chidambaram, who said that it is a state subject and for them (states) to deal with it. 


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I withdrew Rs,1 Lac (1000x100 notes) from Canara Bank only to be deposited into Yes Bank. There they detected a fake note. It was an embarassing moment..

Went Back to Canara Bank (within 30 mins of withdrawal) and reported the matter there. They exchanged it without any fuss.

Some Nationalised Banks themselves involving in fake currency scam / circulation, cannot be rulled out.

If there are say 1 crore cash withrawal a day (e.g. Canara Bank branch) which means 100 fake notes of 1000 out in the circulation daily.

- JoeGoaUk, Goa | 02 nd July 2012 06:01

 

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