The Hindu : Tamil Nadu / Tiruchi News : TNEB on vigil against fake notes

Online edition of India's National Newspaper
Tuesday, Sep 14, 2004

Tamil Nadu

Tamil Nadu - Tiruchi

TNEB on vigil against fake notes

By Our Staff Reporter

TIRUCHI, SEPT. 13. The Tamil Nadu Electricity Board is taking extra precautions against infiltration of counterfeit currency notes during bi-monthly payments at its collection counters in Thennur main office.

Staff at counters mark the service numbers on currency notes of Rs. 500 denomination, to avoid risks, as it is easy to identify the source of circulation in case the notes turn fake. Senior officials are not too happy with the arrangement, but are helpless, since it is their responsibility to ensure the genuineness of the currencies.

A recent bitter experience has convinced them to take up the extra work. One employee, after receiving a fake note of Rs. 100 denomination, had to discard the fake note and pay the amount from his pocket to `avoid complications.'

A senior official acknowledged that the staff have their limitations. Unlike bank employees who handle cash and hence are able to spot the difference, TNEB staff do not have the knack of identifying fake currencies while counting wads of notes. The situation gets worse on the last two days for payment, namely 14th and 15th, when there are serpentine queues before counters.

Though the TNEB here has three Fake Currency Detection Machines, it is practically impossible to check the veracity of each currency note of higher denominations, employees note. The problem can be mitigated only if consumers cooperate by not waiting till the last couple of days for making the payment, the official said.

Bankers too feel the fake currency detection equipment can only be a deterrent. It cannot provide a complete solution. Bankers, according to a senior official, cannot afford to take the risk of annoying customers by checking the currencies remitted by them in their presence, and also because across-the-counter transactions have to be swift in this competitive age.

However, police officials said they had not received written complaints of counterfeit currencies so far.

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