Banks take measures to check deposit of fake ₹2k notes

Daltonganj: Only an account holder of a bank has been allowed by the Reserve Bank of India (RBI) to exchange a maximum of two notes of Rs 2,000 denomination against other notes per day with his or her respective bank’s business correspondents, bank officials said here on Tuesday.
The RBI has directed the banks having currency chest to ensure that no Rs 2,000 note is withdrawn under any circumstance.
Further, all balance of the Rs 2,000 notes in the currency chests would be classified as unfit and kept ready to be dispatched to the RBI’s nearest branch.
Sources said there is a genuine apprehension of Rs 2,000 fake notes reaching the banks through the users of the Indian currency. Hence, the RBI has directed the banks to accord top priority to check the veracity of the Rs 2,000 notes received either for exchange or deposit in accounts — savings, current, or loan — in the note sorting machine (NSM).
Meanwhile, all eyes are on the Pradhan Mantri Jan Dhan Yojna to check if the account swells with the Rs 2,000 notes deposited by unscrupulous people.
A branch manager of the State Bank of India (SBI) said, “We have a software that alerts if the deposit in the Pradhan Mantri Jan Dhan Yojna account crosses Rs 2 lakh in a financial year. The SBI then sees such excess of deposit as suspicious deposit.”
Another official of a bank added, “The RBI has asked us to submit a daily data on the deposit and exchange of the Rs 2,000 notes.”
The regional manager of the Jharkhand Rajya Gramin Bank, Mukesh Verma, said, “The RBI is conscious about cash transaction reporting (CTR) and suspicious transaction reporting (STR). No banker can afford to be unmindful of suspicious transactions during cash swapping now.”
Referring to the reports of scarcity of other denomination notes, a banker said, “We have been asked to have our requirement for other denomination notes ready to overcome any scarcity situation, of which there is the least possibility.”
The branch manager of the Central Bank Of India (CBI) at Majhiaon, Perveen Kumar Pandey, said heavy deposits of the Rs 2,000 notes in the account should have to meet mandatory statutory requirements like PAN among others.