Counterfeit notes are a big problem. Because of their resemblance to the original, many times such notes end up in your pocket during transactions. If you try to run fake notes again, you may run into trouble. Tell us what to do when you find fake notes.
If you find a fake note, you need not panic or try to exchange it for something else with immediate effect. Doing so can land you in legal trouble.
Inform concerned legal agency on receipt of fake notes. The serial number of the note, the amount and the person on whose behalf you received it. Tell about it.
RBI has a rule that if a fake note comes out of a bank's ATM, that bank will compulsorily exchange the note. However, for this you have to identify the fake note in front of the ATM and then show both the front and back of the note on the camera installed there. If there is a security guard, inform him as well.
Counterfeit notes found in transactions become very difficult to replace. However, if you find a large number of fake notes, take them to the nearest RBI branch as soon as possible. You should have strong evidence that someone has cheated you and given you these fake notes. Along with this you have to inform the nearest police station as well.
If you find fake notes, do not try to hide them or try to run them in the market. If you are found doing so, you can be prosecuted under Section 489C of IPC. In this you can be punished from 7 years to life imprisonment. Also, you may be fined heavily.
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How to identify fake notes
The watermark of fake notes (Mahatma Gandhi's picture, print of the value of the currency note) is thick and unsightly compared to genuine notes. This happens due to the use of grease or oil. Apart from this, diagonal lines are drawn on the edges of the note, which are called bleed lines. There are 2 circles between them. 100-200 notes have 4 bleed lines, 500 notes have 5 and 2000 notes have 7. The security thread on which India and RBI are written should be visible inside the note.
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