Rs 8.78-worth fake notes deposited at State Bank of Travancore after demonetisation

The bank said a complaint would be registered against those who deposited the fake notes as it has their details

Rs 8.78-worth fake notes deposited at State Bank of Travancore after demonetisation

The State Bank of Travancore (SBT) in Kerala has detected counterfeit currency with a face value of Rs 8.78 lakh deposited with the bank after demonetisation and is planning to approach the police with complaint against the perpetrators, Mathrubhumi News has reported.

Out of the Rs 12,000-crore scrapped currency that reached SBT after the note ban, Rs 8.78 lakh were found to be of fake currency when the bank officials examined the data between November 10 and December 28.

The bank said a complaint would be registered against those who deposited the fake notes as it has their details.

The bank officials, while accepting the notes, had recorded the serial numbers of the notes along the name and other details of the depositors.

According to banking experts, the balance sheets of banks in the country will take a hit if deposits exceed the amount immobilised by the demonetisation move. This will further add to the banks’ mounting challenges, saddled as these are already reeling under burgeoning non-performing assets.