EC No. 140 /DoS- 28/2020 26 May 2020
Ref. No. NB. DoS. Pol/534 /Policy/J-1/2020-21
The Registrar of Cooperative Societies in 13 States/Union Territory.
Dear Sir / Madam
Detection and Impounding of Counterfeit Notes
We invite your attention to RBI’s Master Circular DCM (FNVD)G-1/ 16.01.05/2019-20 (RBI / 2019-20/01) dated 1 July 2019 on the above subject (copy enclosed). As per para 10 of the Master Circular (page 6), all banks have to report regarding Fake Indian Currency Note (FICN) and its detection and impounding on a monthly basis in the format prescribed in Annexure VI of the aforesaid Master Circular. In case no counterfeit note has been detected during the month a ‘NIL’ Report is to be sent to them.
2. Further, under Rule 8 (1) of Prevention of Money Laundering (Maintenance and Record) Amendment Rules, 2013, Principal Officers of Banks are also required to report on a monthly basis on cash transactions where forged notes have been used as genuine to the Director, FIU-IND on the FINnet portal and National Crime Record Bureau, New Delhi on their website by the 15th day of the succeeding month.
3. We request you to advise the SCARDB in your State/UT to furnish the report as indicated in paragraph 1 above. They may also certify that they have uploaded the cash transactions where forged notes have been used as genuine, in the websites of FIU-IND and National Crime Records Bureau, New Delhi, to Department of Currency Management, Reserve Bank of India, Central Office, Mumbai and endorse a copy to our concerned Regional Office.
4. Please acknowledge receipt of this circular to our Regional Office concerned.
(K. S. Raghupathi)
Chief General Manager
Encl:- as above