What to do if you find a 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.

Who can impound counterfeit notes?

Q: Who is the authority to impound Counterfeit Notes? A: The Counterfeit Notes can be impounded by (i) All Banks (ii)All Treasuries and Sub-Treasuries (iii) Issue Offices of Reserve Bank of India.

How do I report fake notes?

If you suspect that you have a counterfeit banknote, please take it to your nearest police station. The police should fill out an NCO-1 form and provide you with a receipt and incident number. The suspect notes will be sent to the National Crime Agency and if counterfeit to the Bank of England for further examination.

Where is the counterfeit notes stored?

All Counterfeit Notes received back from the police authorities/courts may be carefully preserved in the safe custody of the bank and a record thereof be maintained by the branch concerned.

Is it a crime to have fake money?

Producing or distributing counterfeit money, or knowingly attempting to use counterfeit money, is a criminal offense under federal law.

What is the punishment for fake currency in India?

India Code: Section Details. [Whoever counterfeits, or knowingly performs any part of the process of counterfeiting, any currency-note or bank-note, shall be punished with 2[imprisonment for life], or with imprisonment of either description for a term which may extend to ten years, and shall also be liable to fine.

Do banks take fake notes?

Counterfeit banknotes are rare and also worthless. We cannot reimburse you for counterfeit banknotes. The suspect notes will be sent to the National Crime Agency and if counterfeit to the Bank of England for further examination.

How to identify a real or a fake 100 rupee note?

At the left bottom corner, you see a slogan i.e. एक कदम स्वच्छता की ओर At the left side slight at the top, you see the year of printing of the note. That’s it, Via this way you can identify a real or a Fake 100 Rupee note.

How to identify ‘real’ and ‘fake’ currency in India?

But did you know that Reserve Bank of India (RBI) has embedded security features to all Indian currencies which will help you to identify ‘real’ notes from the ‘fake’ ones? Read on to know the signs that indicate fake currencies. In a fake currency, the watermark usually looks thick.

How can you tell if money is real or fake?

Real notes will not have ink smudges and broken printed lines. The notes with broken printed lines and ink smudges should be regarded with suspicion. Security threads that are just drawn or printed on the currency, instead of the original one that is incorporated through the currency.

What are the signs of fake notes?

The notes with broken printed lines and ink smudges should be regarded with suspicion. Security threads that are just drawn or printed on the currency, instead of the original one that is incorporated through the currency.