General Studies · Counterfeit Notes Handling
According to the RBI Master Circular on counterfeit currency detection, what is the mandatory course of action for a bank branch if five or more counterfeit notes are detected in a single transaction at the cash counter?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Mark the notes as fake with red ink and hand them back to the customer with a legal warning.
- 2Immediately credit the customer's account for the total value to maintain good relations.
- 3Impound the notes, issue an acknowledgment receipt to the customer, and file a First Information Report (FIR) with the local police.✓
- 4Impound the notes, issue a plain paper receipt, and return the bundle to the customer.
Correct answer
Impound the notes, issue an acknowledgment receipt to the customer, and file a First Information Report (FIR) with the local police.
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