Ref. No.NB.DoS/ POL/ 2696 /J-1/2018-19 October 29, 2018
Circular No. 270 /DoS- 38 /2018
The Chief Executive Officer,
All State Co-operative Banks
All District Central Co-operative Banks
Master Circular on Detection and Impounding of Counterfeit Notes – 2018
1. Please refer to the RBI circular No.DCM(FNVD)G – 1/16.01.05/2018-19 dated July 2, 2018 on the captioned subject.
2. Para 10 of the same has been modified to align it with the extant instructions of FIU-IND. The modified paragraph is given below:
Para 10 – Reporting of data to RBI/ NCRB/ FIU-IND
“By All Bank branches
Data on Counterfeit Notes detected by all the branches of the bank shall be reported in the prescribed format, on a monthly basis. A statement (Annex VI) (copy enclosed) showing the details of Counterfeit Notes detected in the bank branches during the month shall be compiled and forwarded to the Issue Office of Reserve Bank concerned so as to reach them by 7th of the next month. A “nil” report may be sent in case no counterfeit has been detected during the month.
Under Rule 8(1) of Prevention of Money Laundering (Maintenance of Records) Amendment Rules, 2013, Principal Officers of bank are also required to report information on cash transactions where forged notes have been used as genuine, to The Director, FIU-IND, Financial Intelligence Unit-India, 6th Floor, Hotel Samrat, Chanakyapuri, New Delhi-110021, by the 15th day of the succeeding month, by uploading the information on the FINnet Portal. Similarly, data on FICN (Fake Indian Currency Note) detection is also to be uploaded on the web-enabled software of National Crime Records Bureau, New Delhi at their website.”
3. You may note the modifications in the instructions as mentioned above and take steps to implement them scrupulously. These instructions come into force with immediate effect.
4. Please acknowledge the receipt of this circular to our Regional Office concerned.
(K. R. Rao)
Chief General Manager
Encl.: As above