Writing on notes is an offence: RBI
MUMBAI: The next time a telecom or any other service provider asks you to write your contact details on higher denomination notes (Rs 500 or Rs 1000), refuse. Writing on currency notes is a punishable offence as per the Reserve Bank of India 's clean note policy.
In November 2001, the central bank had stated that writing on the watermark window of bank notes is punishable under Section 35A of the Banking Regulation Act 1949. It also ordered to stop stapling fresh, reissuable or non-issuable note packets. In 2002, RBI had pulled up a public sector bank for continuing with the stapling practice.
Of late, some telecom and energy service providers in Mumbai have been requesting customers to write their contact details on notes of higher denominations. The custom is to trace the origin of the note if it turns out to be fake. "I was asked to write my name and mobile number on a Rs 500 note.
When I refused, citing security reasons, the bill desk person refused to accept the note. I requested the official to write down the note serial number and my contact details in a separate register, but he refused. Finally, I gave up and paid my bill with Rs 100 notes," said an agitated customer.
Service providers have had bitter experiences in the past when banks charged them for depositing fake currency.
The service providers argued the notes were deposited after being collected from bill collection centres. The case was later referred to the police.
"We have had bad experiences in the past where the bill desk in charge at the end of the day had to pay for their loss on their own account for fake notes. We then started maintaining a register where the official was asked to write the currency serial number, name and number of the customer.
But this system failed as customers declined to have deposited the note in question. Following which we asked customers to write on the note," said a bill desk in charge of a telecom company.
"We are aware of the problem. Zonal and regional offices have been complaining of increasing circulation of fake Rs 500 notes. To avoid customer inconveniences, we have installed counterfeit note detection machines at select centres and have also initiated staff training," said the spokesperson of a telecom company.
"Maintaining a register is a good policy. However, the official should ask the individual to list his/her contact details and also take a signature. Many insurance companies follow this practice," added the spokesperson.
From India, Nasik
15MUMBAI: The next time a telecom or any other service provider asks you to write your contact details on higher denomination notes (Rs 500 or Rs 1000), refuse. Writing on currency notes is a punishable offence as per the Reserve Bank of India 's clean note policy.
In November 2001, the central bank had stated that writing on the watermark window of bank notes is punishable under Section 35A of the Banking Regulation Act 1949. It also ordered to stop stapling fresh, reissuable or non-issuable note packets. In 2002, RBI had pulled up a public sector bank for continuing with the stapling practice.
Of late, some telecom and energy service providers in Mumbai have been requesting customers to write their contact details on notes of higher denominations. The custom is to trace the origin of the note if it turns out to be fake. "I was asked to write my name and mobile number on a Rs 500 note.
When I refused, citing security reasons, the bill desk person refused to accept the note. I requested the official to write down the note serial number and my contact details in a separate register, but he refused. Finally, I gave up and paid my bill with Rs 100 notes," said an agitated customer.
Service providers have had bitter experiences in the past when banks charged them for depositing fake currency.
The service providers argued the notes were deposited after being collected from bill collection centres. The case was later referred to the police.
"We have had bad experiences in the past where the bill desk in charge at the end of the day had to pay for their loss on their own account for fake notes. We then started maintaining a register where the official was asked to write the currency serial number, name and number of the customer.
But this system failed as customers declined to have deposited the note in question. Following which we asked customers to write on the note," said a bill desk in charge of a telecom company.
"We are aware of the problem. Zonal and regional offices have been complaining of increasing circulation of fake Rs 500 notes. To avoid customer inconveniences, we have installed counterfeit note detection machines at select centres and have also initiated staff training," said the spokesperson of a telecom company.
"Maintaining a register is a good policy. However, the official should ask the individual to list his/her contact details and also take a signature. Many insurance companies follow this practice," added the spokesperson.
From India, Nasik
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