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In response to my post about guidelines on detection and impounding of counterfeit notes at Indian Banks, a reader asks,
Has anyone got a fake currency note through an ATM? What is the process to be followed in such a case? Does the bank keep track of each and every note fed into the ATM?
With most banks outsourcing to a third-party the loading of cash into ATMs, I’m not sure where the accountability and audit trail lies. I’ve never faced such a situation. How about you? If you have, what did you do?
Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.