Tamil Nadu   

“Circulation of forged notes in State low”

— Photo: A. Muralitharan

Not a problem: People exchanging soiled notes for new ones at an awareness campaign on the detection of forged notes in Tambaram on Wednesday.

TAMBARAM: The circulation of forged notes is low in Tamil Nadu and Puducherry, and people need not be worried about the problem at all, officials of the Reserve Bank of India (RBI) said on Wednesday.

Against a combined daily circulation of currency notes to the tune of Rs. 50,000 crore in Tamil Nadu and the neighbouring Puducherry, the number of forged notes detected by both private and nationalised banks was only around 4,000.

These details were given by senior officials of the RBI and State Bank of India, who jointly conducted a public awareness campaign on the detection of forged notes and exchange of new notes for soiled ones at Ambedkar Municipality Marriage Hall in Tambaram.

The banks were conducting the campaign for the second time, after an earlier event held in December in Perambur. Now they are organising such events to reach out to the public directly, F.R. Joseph, Regional Director for Tamil Nadu and Puducherry of the RBI, said during the inaugural function.

In Wednesday’s event, Indian Bank, Canara Bank and ICICI Bank took part, in addition to the SBI.

New notes to the tune of Rs. 42.8 lakh were given in exchange for soiled notes brought in by bank depositors and merchants.

Senior officials said cut notes, which were torn but had the serial number intact, should be treated as soiled notes and that people could exchange them for new notes in any branch of nationalised or private banks.

No branch could refuse to replace soiled notes, officials said.

The RBI would only be too glad to conduct programmes at institutions that wanted to train its staff on detecting forged notes.

The Issue Department of the RBI can be reached at 25399160.

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