WebMar 7, 2024 · "The Reserve Bank of India (RBI) has imposed, on March 01, 2024, a monetary penalty of Rs 4 million on State Bank of India for non-compliance with the directions issued by RBI on Detection and Impounding of Counterfeit Notes," the central bank said in a notification issued on Wednesday. WebCreating or utilising counterfeit money is an act of deception or falsification that is illegal and a punishable offence. Counterfeit currency can be detected using several methods like the photographic method. Money forgery is almost as old as money itself, and we know this from plated copies from the past that have been discovered.
Reserve Bank of India - Notifications
WebMar 7, 2024 · MUMBAI: The RBI has penalised SBI Rs 40 lakh for not complying with its directions on detection and impounding of counterfeit notes. The RBI said it found deficiencies on SBI’s part in regulatory compliance with counterfeit note norms. WebApr 24, 2024 · After a complaint is raised, the counterfeit notes are examined by the bank and if satisfied, the bank will issue an acknowledgment slip and impound those notes, following which the bank will file an FIR at the nearest police station. Read: In Pics: World Bank Says India Has Recovered From Demonetization And GST Impact, But Is It True … how to say contagion
FAQs on Detection and Impounding of Counterfeit …
WebJul 21, 2024 · Master Circular – Detection and Impounding of Counterfeit Notes Please refer to the Master Circular DCM (FNVD) G-6/16.01.05/2016-17 dated July 20, 2016 … WebJul 7, 2011 · Master Circular Detection and Impounding of Counterfeit Notes. Please refer to the Master Circular DCM (FNVD) No.G-4/16.01.05/ 2010-11 dated July 1, 2010 consolidating the instructions issued till June 30,2010 relating to detection and impounding of Counterfeit Notes. The Master Circular has been since been updated … Web44 rows · Jul 2, 2024 · Master Circular – Detection and Impounding of Counterfeit … northgate high school pittsburgh pa