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This story is from April 29, 2007
Bank replaces fake note
The ICICI Bank responded quickly to replace IAF personnel Corporal Prakash's counterfeit Rs 1,000 denomination currency note.
After TOI reported the fake currency note thrown up by an ATM when Prakash had operated it to withdraw Rs 9,000 cash on Friday, the ICICI Bank authorities made efforts to meet Prakash at his residence in Sector 28 here to hand over a genuine Rs 1,000 currency note.
"The bank officials visited me three times since Saturday morning. First, an official visited me in the morning to say the bank would like to replace the fake note. A senior regional manager level officer visited me in the afternoon to apologise for the inconvenience and to assure that the genuine note would certainly be delivered. Around 8 pm, another official visited me and handed over the genuine note. They also took an acknowledgement and I handed over the fake currency note to the bank official," said Prakash, beaming with happiness.
Asked about the replacement of the counterfeit by the bank branch here, ICICI Bank's corporate communications head from Mumbai, Charudatta Deshpande told TOI that the bank was sure that Prakash was a bonafide customer and that he held an account and an ATM card of the bank.
"We did not want to cause inconvenience to our bonafide customer. However, the investigation into the source of the counterfeit note would continue," Deshpande said.
He also explained that on Friday, Prakash had handed over a photocopy of the counterfeit currency and hence the probe into its source could not proceed. The fake note was collected from Prakash on Saturday to help the probe to move forward.
"The bank notes are from RBI and only RBI-issued notes are stacked up in the ATMs. Our aim to carry out the probe is to weed out counterfeiters from circulating fake currency notes into the market," Deshpande said.
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