If You Go to The Bank to Deposit Rs 2000 note and it turns out to be Counterfeit, What Will Happen?

Fake 2000 note: While depositing Rs 2000 notes through banks, all the notes are sorted immediately for accuracy and authenticity using Note Sorting Machines (NSMs). This allows for the authentication of counterfeit notes.

RBI:  The RBI has decided to withdraw the circulation of Rs 2000 notes. The banks have been instructed to remain vigilant in dealing with the counterfeit notes as well. The RBI has directed the banks to diligently follow the master directions of the Central Bank of India to tackle the counterfeit notes. If any counterfeit notes are found among the deposited Rs 2000 notes, appropriate actions will be taken by the bank.

While depositing Rs 2000 notes at banks, all notes will be sorted immediately through Note Sorting Machines (NSMs) for accuracy and authenticity. This enables the identification of counterfeit notes. The RBI states that the precautionary guidelines outlined by the master directions dated 3rd April, 2023, should be followed diligently for detecting, reporting, and monitoring counterfeit notes.

Guidelines by RBI:

• Banks will use the Note Sorting Machine to authenticate the notes.
• If any note is found to be fake, the customer will receive no amount.
•  The counterfeit notes that are identified will be stamped with the mark “COUNTERFEIT NOTE” and seized in the prescribed format. The seized notes will be recorded in a separate register for documentation and verification purposes.
• Counterfeit notes will not be returned to the customers. Additionally, the banks will not destroy these notes through their branches. If a bank falls in the process of seizing counterfeit notes, it will be held accountable and penalized for its involvement.
• If a counterfeit note is detected, the bank branch will issue an acknowledgement receipt to the customer in a prescribed format.