Key Points
Synopsis. if you receive a fake India rupee note, it's essential to stay calm, examine the note carefully, report it to the authorities, retain the note, and be prepared to lose the money..
AgenciesAny attempt to circulate the counterfeit currency with the knowledge that it is fake, is punishable under IPC Section 489C, and can attract fine or imprisonment ranging from seven years to life imprisonment, or both...
If you receive a fake note, don't pass it on to anyone else, as it is illegal to knowingly pass off counterfeit currency..
After spotting fake currency notes, at the ATM, you should immediately record the counterfeit notes in the CCTV camera of the ATM by showing both the front and back sides of the note.Inform the security guard of the ATM about the fake note.Make.
customer will be given original note in lieu of fake note.Show the ATM transaction receipt to the bank.According to RBI guidelines, banks have to refund the customer as early as possible if fake notes come out from ATM..
