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Counterfeit Currency Alert: Agra Man Arrested for Depositing Fake Rs 2,000 Notes


Agra Man Arrested for Fake 2000 Notes

Agra: In a significant development, the son of a prominent bullion dealer in Agra was apprehended on Tuesday for depositing counterfeit Rs 2,000 currency notes at a State Bank of India (SBI) branch. The individual had deposited a substantial amount of Rs 2.85 crore, out of which 13 Rs 2,000 notes were identified as counterfeit. The vigilant bank manager, Pradeep Kumar Kardam, promptly alerted the authorities, leading to the man's subsequent arrest.


This incident followed a previous visit by the same individual to the bank two days prior when he attempted to deposit cash. It was later discovered that three of the Rs 2,000 notes submitted during that transaction were also counterfeit, raising suspicion about the authenticity of the subsequent deposit.


The recent decision by the Reserve Bank of India (RBI) to withdraw Rs 2,000 notes from circulation has been a crucial development. Despite the withdrawal, the RBI has clarified that the notes will remain legal tender, ensuring their continued acceptance in transactions.


As per a circular issued by the central bank, it has been mandated that all Rs 2,000 currency notes must be exchanged or deposited by September 30, 2023. To facilitate this process, banks have been directed to offer deposit and exchange facilities for Rs 2,000 banknotes until the specified deadline.


Since the initiation of the exchange and deposit procedure on May 23, people across the country have been observed standing in long queues outside banks, demonstrating the widespread engagement in the currency conversion process.


The arrest of the bullion dealer's son serves as a stark reminder of the need for caution and vigilance while handling currency notes, particularly during this transitional period. It highlights the significance of the banking sector's cooperation with law enforcement agencies to ensure the detection and prevention of counterfeit currency circulation.


By taking strict action against those involved in the illegal act of depositing counterfeit notes, the authorities aim to maintain the integrity of the financial system and protect the interests of individuals and businesses alike.

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