Lucknow, April 23: Fake Rs 500 notes of 'Children Bank of India' were dispensed by an ATM in Uttar Pradesh's Bareilly district. The notes had imprints of 'Bhartiya Manoranjan Bank' and 'Churan Lable', apart from 'Children Bank of India' written over it.
The fake notes were dispensed by a United Bank of India ATM in Bareilly's Subhashnagar region. The incident comes in the backdrop of a severe cash crunch faced by at least six states, including parts of UP.
Watch the video below showing fake notes being dispensed by the ATM:
#WATCH - 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. pic.twitter.com/oET3KB05tJ
— News18 (@CNNnews18) April 23, 2018
Similar fake notes were dispensed by at least two ATMs last year. On February 23, 2017, an ATM of SBI in Delhi dispensed Rs 500 notes with imprints of 'Churan Bank'. A week later, an ATM in Meerut dispensed notes with 'Children Bank of India' imprinted over them.
Although the incidents of fakes note being dispensed by the ATMs are sporadic, it creates an alarm among depositors who resort to withdrawals from their accounts mostly using the automated teller machines.
The UP government is expected to conduct a robust inquiry into the incident which got reported from Bareilly today. According to banking experts, the foul play could have been committed by the ATM cash van guard. The role of others in the cash supply chain, however, could not be ruled out.