What will u do if Banker says that some of currency not deposited by u are fake and he will have to call police?

To keep fake currency notes or to try to circulate them are serious offenses punishable with life Imprisonment.

But suppose you get bundles of cash payment from a customer. You send some one to deposit them in Bank.

There banker finds that some of the currency notes are fake and he tells you that he will have to call police.

Then what will you say?

Initially, some such cases happened and police cases were registered.

But I think thereafter, some circulars were issued to Banks regarding what to do in such isolated cases.

Bank need not call police. It can destroy fake currency notes with consent of customer.

Matter ends there.

But if customer opposes destruction of fake notes or if quantity of fake note is high, the police may have to be informed.

I have seen a case were a customer put some notes in a cover and cover was dropped in ATM Box. When Bank contacted customer and told him that some of his notes were fake, he denied. So police case was registered against him for depositing fake notes in ATM machine.

Customer can use same method. If fake currency notes comes out from machine, he should contact Bank and ask bank's consent for destroying it and giving him fresh true notes.

If Bank denies that, then police case against Bank, Bank Manager can be filed for attempt circulate fake notes through ATM machines.

The police will have to investigate. But you should have some kind of proof to show that these fake notes were part of money you had obtained from ATM and you complained at earliest.

How small people get embroiled in such legal troubles

Mostly because of ignorance and little ego.

Suppose, you paid some money to X.

Next day this man comes back and says that one of note you gave was fake. When he went to deposit it in Bank, bank has destroyed it. Now he is asking same amount from you.

You are surprised and shocked. You say you never gave any fake note.
And anyway he should have checked before accepting amount from you... You get into denial mode. This escalates dispute.

This leaves a bitter taste in mouth of that person. He files a police case and trouble gets enlarged into a case and trial.

On the other hand if practical approach was made to solve the grievances, the matter could have been over with little loss.

Haresh Raichura
1/3/2013