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Shocking! Bank ATM found dispensing Rs.500 notes of ‘Children Banks of India’

An ATM machine that was installed at Subhash Nagar, Bareilly, took the nearby locality people by a shock when they spotted the phrases ‘Bhartiya Manoranjan Bank’ and ‘Churan Lable’ printed on the notes.

The wholenation is under shock as United Bank ATM in Uttar Pradesh was found dispensing fake INR 500 notes of Children Banks of India according to a recent tweet by News18. Well, nobody saw this coming from a nation which is maintaining it’s status quo loud and proud. This is absolutely shocking to see such thing happening

An ATM machine that was installed at Subhash Nagar, Bareilly, took the nearby locality by shock, when they spotted the phrases ‘Bhartiya Manoranjan Bank’ and ‘Churan Lable’ printed on the notes. The fake currency notes looked like a replica of the original currency notes that are issued by the Reserve Bank of India (RBI).

CHURAN LABEL NOTE (Credits: India Times)

News18 Official Twitter handle confirmed the news stating that an ATM in Uttar Pradesh was found to be distributing counterfeit currency notes. The caption read, “ATM machine of United Bank of India installed at Subhashnagar, Bareilly started dispensing fake 500 rupees notes, with ‘Children Banks of India’, ‘Bhartiya Manoranjan Bank’ and ‘Churan Lable’ written over it.”

The Financial Intelligence Unit (FIU), that analyses doubtful financial transactions relating to money laundering and terror financing as part of the Union Finance Ministry establishment, reported counterfeit currency transactions in the banking system and other economic channels increased over 3.22 lakh instances during 2016-17 as compared to the last year.

One of the complainants, Ashok Pathak, a retired health employee, said, “Of the total Rs 4,500 which I withdrew, a currency note of Rs 500 turned out to be fake. It had ‘Children Bank of India’ (instead of Reserve Bank of India) and ‘Churan Lable’ written on it. I also came to know that another man called Praveen Uttam had got two fake notes from the same ATM.”

“I withdrew Rs 1,000 from an ATM in Subhash Nagar and of the two Rs 500 notes I received, one was fake. The incident took place on April 22 at 5:44 pm. I requested the bank to provide me with Rs 500 for the fake note.”

A video of Shukla withdrawing money from the ATM receiving a fake note was widely shared on social media. Speaking on the matter, Shukla told TOI, “I had first gone to an ATM which was out of cash. When I went to the UBI ATM, a crowd which had gathered there requested me to record a video of the transaction. After I received a fake note, I realized what the furore was about. Two persons had received fake notes before me.”

However, Bacchan Shah, manager, UBI, said that after carrying out an inspection, they found no fake notes. “We checked all currency notes in the ATM on Monday and did not find any fake ones. I have sent a report to our head office in Calcutta to blacklist or take action against the agency, which is tasked with depositing cash at ATMs. They must have replaced some of the currency notes and it was an embarrassment for the bank,” he added.

Shah further added saying that, “In my report, I have also requested that the customers be reimbursed for the fake notes they received. We provide sorted notes from a machine to an agency to refill them in ATMs, so there was no mistake from our side.’’

Written by Chaithanya G

Hailing from Chennai, Chaithanya G is the Managing Director of TheYouth. He has dedicated his whole life to reading and writing.

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