The RBI has instructed banks to stock their ATMs with good quality genuine notes.
Mumbai: After complaints of counterfeit banknotes being dispensed through ATMs, the Reserve Bank of India (RBI) instructed banks to stock their ATMs with good quality genuine notes.
In a public notice issued on Monday, RBI advised the public to check banknotes received by them for their genuineness.
The disbursement of counterfeit banknotes through ATMs would be treated as an attempt to circulate the forged notes by the bank concerned.
Experts suggest that Pakistan-based racketeers often push fake currency into India through a wide network of their associates based in Thailand, Nepal, Bangladesh, Dubai.
In August last year, RBI had issued an updated circular on detection and impounding of counterfeit banknotes.
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