Thursday, June 23, 2011

Canada’s new plastic banknotes



OTTAWA— From Tuesday's Globe and Mail

Friday, May 20, 2011

5 more register plaints against BOB employees

TNN | May 19, 2011, 11.03pm IST

VADODARA: The city police investigating Bank of Baroda (BOB) fake currency racket and bank union members have come to loggerheads over the action taken by the cops against BOB employees. The cops have begun detailed investigations into the case wherein two BOB employees have been accused of cheating a customer by terming his genuine Rs 1,000 note as fake. Police officials said that they have got five more complaints against the same employees working at Nizampura branch.

Jitendrasinh Baliyan had registered police complaint against BOB cashier Anil Jadhav and branch manager Rajeshkumar Dani for terming his genuine currency note as fake. "We have received five more complaints against Jadhav in last few days. The complainants have stated that Jadhav told them that some of their currency notes were fake and kept them with him. Dani too didn't object to it proving his complicity in the racket," said Fatehgunj police inspector S Banker.

"When so many customers point fingers towards one bank employee then it does raise suspicion against him. We are now gathering details about Jadhav, Dani and other bank employees," Banker added. The cops have also learnt that both Jadhav and Jani had worked together in some other BOB branch earlier too and it will also come under the purview of investigations.

Investigating officials also learnt that some unidentified person was trying to scare witnesses and trying to make them hostile but nothing has been taken on record in the case owing to lack of evidence. Members of BOB Karmachari Sangh and other bank unions on the other hand stepped up protests against the cops by submitting a memorandum to district collector on Thursday. The union members said that bank employees are being targeted unnecessarily and that the cops are taking coercive steps against them.

RBI asks states to crack down on fake currency

Agartala, May 19 (IANS) The Reserve Bank of India (RBI) Thursday asked the state governments, specially those sharing international borders, to take stringent action against circulation of fake currency notes.

'The state governments, particularly those states that share international borders, must be more vigilant and take tough steps to stop the menace of circulating of fake Indian currency,' RBI Governor Duvvuri Subbarao told reporters after the first-ever central board meeting of the country's central bank here.

He said that the union home ministry in association with the state governments and the security agencies must take appropriate steps to check the circulation of fake Indian currency notes in the market.

'The banks have been asked to install note sorting machines to identify the fake, mutilated and soiled notes,' Subbarao said.

He said efforts are being made to airlift the notes of small denomination and coins to all northeastern states.

'The RBI is aware that the fake currency, shortage of notes of small denomination and coins are big problems in the northeastern region,' he said.

Thursday, May 19, 2011

Fake note: SBI files plaint against customer

May 18, 2011, 09.17am IST

VADODARA: Days within the city police arresting two Bank of Baroda (BOB) employees for trying to dupe their customer by terming genuine currency note as fake, a State Bank of India ( SBI) official registered complaint against one of its customers. Manager of SBI's Ellora branch Yasminbano filed complaint against Charmi Patel, who is a travel agent, for carrying a fake note of Rs 500.

Patel had visited the bank on Monday to deposit Rs 66,500 in her account. The cashier found that one of the Rs 500 note was fake so he informed the manager about it. "We are now verifying the currency note found from Patel. If it was fake then from where she got it that needs to be found out," Gorwa police inspector G K Rawal said.

Two employees of BOB faced the heat last week after they were arrested by the cops for threatening their customer and trying to term a genuine Rs 1000 note as fake. The cops have asked all the banks to follow proper procedure in case they come across fake currency notes.

Friday, April 22, 2011

Fake Indian currency worth Rs 4.759 million seized in Nepal

Kathmandu: A Thai national and a Nepalese were arrested with fake
Indian currency with the face value of Rs 4.579 million, police said

The police have arrested Thai national Anuwad Sahid and his Nepalese
accomplice Ishwor Prasad Shah for possessing the fake Indian currency
notes with Rs. 500 and Rs. 1,000 denominations yesterday, according to
Kathmandu police.

The police claimed to have busted one of the major fake currency
rackets in Kathmandu ahead of the visit of Indian External Affairs
Minister S M Krishna to Kathmandu.

The fake bank notes were brought to Kathmandu on board a Thai Airlines
flight by the Thai national, according to the police.

While, Nepalese national Shah, a resident of Birgunj in southern
Nepal, is said to have ordered the fake bank notes with a view to
sending them to India.

The police have seized fake 1,000 bank notes with denomination of
Rs.1,000 and 7,158 fake bank notes with denomination of Rs.500, from
the hotel room while carrying out a raid on the basis of a tip off,
according to a press release issued by the police. The total face
value of the fake Indian currency was Rs 4.579 million.

The fake bank notes were hidden inside a suit case under a false
bottom. The police have also recovered a Honda Shine motorbike and
four Nepali mobile sim cards from Room No.565 of the Hotel Gyangjong
situated at Lazimpat of Kathmandu where the Thai national was residing
for some time.

During an interrogation Thai national Sahid has admitted that he had
arrived in Kathmandu four times in the past in connection with the
fake currency racket. This was probably for the first time that a Thai
national was arrested in connection with fake Indian currency racket.

Krishna, who is scheduled to arrive in Kathmandu on Wednesday is
likely to take up among other things issues relating to the fake
currency racket during his bilateral talks with the Nepalese officials
In Kathmandu.

Earlier, fake currency notes were brought from Pakistan, but this time
it was brought from Thailand, probably changing the traditional route
with a view to sneaking the eyes of the police.


Monday, April 18, 2011

7-year jail term in fake currency case

TNN, Apr 17, 2011, 12.19am IST

MARGAO: H Ashraf, a native of West Bengal, was on Saturday sentenced to seven years imprisonment by the district and sessions court at Margao for circulating fake notes in Vasco last year.

According to the prosecution, the accused was caught by the Vasco police while attempting to recharge his cell phone with a fake ` 1000 note at Vasco market on March 23, 2010. Public prosecutor Asha Arsekar argued that the case against the accused was proved on the basis of evidence.

Wednesday, April 6, 2011

State delays action on fake currency cases

April 5: The state home department is delaying the handover of cases relating to fake currency that is printed in Pakistan to the National Investigation Agency (NIA) even though in just the past two weeks, as many as three major rackets of counterfeit currency notes were busted in Hyderabad, Vijayawada and Visakhapatnam. In fact, all the rackets were linked to Malda district in West Bengal, considered the hub of cross-border fake currency smuggling.

The NIA has a specialise wing that deals with fake currency cases with cross border implications and while the other south Indian states of Kerala, Tamil Nadu and Karnataka are handing over the cases to the agency, the NIA unit in Hyderabad has only received the one case of terror suspect Zia Ul Haq.
Meanwhile, cross-border fake currency groups are targeting Hyderabad, Vijayawada, Visakhapatnam and other cities in the state.

"The state government has to write to the Ministry of Home Affairs (MHA) and the MHA has to hand over the cases to the NIA after verifying the quality of the notes it received from the state government. In fact, the other south Indian states hand over at least four cases per month to the NIA. It is advisable to hand over cases to the NIA as this will accommodate a holistic investigation as the route and original conspirators of all the cases are based in Pakistan, Bangladesh and West Bengal. One of the key objectives of the NIA is to probe fake currency cases of cross border significance," a police official said.