RBI withdraws banks' 25% compensation for detecting fake notes

Last Updated: Thursday, August 27, 2015, 22:58

The Reserve Bank on Thursday said it has withdrawn the instructions on compensation to banks at 25 per cent of the notional value of counterfeit notes detected.

Suspected IM linkman held with fake notes

Last Updated: Friday, November 1, 2013, 09:48

A person, suspected to be a linkman of the Indian Mujahideen (IM), was arrested on Thursday with counterfeit notes by a Special Task Force team, police said.

BSF, NIA seize fake notes of Rs 10 lakh face value

Last Updated: Tuesday, September 24, 2013, 17:22

The Border Security Force and the National Investigation Agency seized fake Indian currency notes valued Rs 10 lakh and also arrested a racketeer.

Banks deposit fake notes at Parliament St police station

Last Updated: Tuesday, September 3, 2013, 22:12

Fake currency notes, whose face value runs into crores, have been deposited by various banks at Parliament Street Police Station from January to August this year, police said.

RBI to compensate banks 25% of losses for reporting fake notes

Last Updated: Sunday, June 30, 2013, 14:15

RBI further said that these instructions have become effective from July 1, 2013 and the banks should commence reporting to RBI from August 2013.

Smuggler held with fake notes in Bihar

Last Updated: Tuesday, April 9, 2013, 16:22

A person was arrested on Tuesday with fake Indian currency notes with a face value of Rs 10 lakh from from a village on Muzaffarpur-Sitamarhi Road in Bihar`s Sitamarhi district, an SSB official said.

Two Hyderabad students arrested with fake notes

Last Updated: Monday, April 8, 2013, 21:33

Two students were on Monday arrested for allegedly preparing and circulating fake currency notes, police said today.

Par panel for legal protection to victims of fake notes

Last Updated: Thursday, March 21, 2013, 20:09

A Parliamentary Panel today suggested that the government should make amendment in laws to provide protection to victims of counterfeit operations.

Private banks detect maximum fake notes: Finance ministry

Last Updated: Tuesday, February 26, 2013, 17:09

Private banks operating in the country have detected and processed the maximum number of counterfeit currency instances in banking channels surpassing both public sector and foreign banks by a huge margin, an official report of the Finance Ministry has said.