Sunday, September 30, 2012

Fake Notes: Can’t Bank on Banks

.......A shocked Parmar explained that she withdrew the money from the ATM of a nationalized bank just a few hours ago. The cashier, unmoved by the entreaties, cited the Reserve Bank of India (RBI) guidelines and Parmar had to forgo the money. Parmar’s not a one-off case and with no provisions for compensation, it is the common man who has to bear the brunt. The RBI too feels that it is a problem with no solution in sight. “There is no policy on replacing the fake currency if it comes out from an ATM. It is difficult to prove that this note has come out of a particular teller machine,” an RBI official said........

Read.........

No comments: