(MENAFN- NewsBytes)
In Bareilly, locals receive 'churan label' notes from ATM
23 Apr 2018
At an ATM of United Bank of India in Subhashnagar, Bareilly, Uttar Pradesh, people who came to withdraw money were in for a shock.
Instead of RBI's Rs. 500 notes, the ATM dispensed counterfeit notes with 'Children Bank Of India', 'Bhartiya Manoranjan Bank' and 'Churan Label' inscribed on them.
The fake Rs. 500 notes bore an uncanny resemblance to the original notes.
Repeated incidents of fake notes reported
Details
On Sunday, the unguarded ATM dispensed fake notes to Ashok Kumar Pathak.
He withdrew Rs. 4,500 and on closer look realized the notes were from 'Children Bank Of India.'
On inquiry, he learned another local Pravin Uttam also got two fake Rs. 500 notes. Another person also reported the same problem.
The people called the toll-free number to report the issue.
Incident raises questions about efficiency of banks
Fact
Since cash management companies hire employees to stash currencies in ATMs, this incident has raised many questions. How did the counterfeit notes find their way to ATMs and how many machines have been affected, to name a few.
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