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Industry : BankingFunctional Area : India(Markets)
Keywords : project management
Activity:  121 views;  last activity : 07 06 2010 20:18:09 +0000

When there is a fake Note/currency in ATM, why Bank people not taking sufficient preventive measures on that?

 
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I have not come across this situation personally but having fake currency in an atm is not good and it places a hardship on the people that use atms when they try to take money out of their accounts.

The banks are completely responsible for the money transactions that go in and out of the atms. And they should do more to try to prevent this problem or catch the people that are doing this or catch this problem if it is coming from where the money is created.

They have verification and sorting machines for the money, so there may be a technical problem in the system. They have the ability to do this but many banks don’t care or they are working very slow in trying to correct this problem. Some banks probably are doing what they can to fix it.

Many banks won’t do anything until there are lots and lots of complaints from people or it becomes made known publicly on a constant basis or it really starts to hurt the banks. But regardless, the banks are responsible and the treasury or reserve bank is responsible. They should do more to correct this problem ‘cause it could get worse.


By http://www.CEOBusinessManagement.com: , Business Consultant, Business Management Specialist & Strategic Planner  07 04 2009 22:34:21 +0000
 
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I haven't come across such situation, but banks would certainly take actions, once the news comes publicly otherwise their reputation would definetly degrade


By Radha V, Project Lead, Confidential  | 07 05 2009 14:39:55 +0000
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till now i have not encountered such problems Mr. Khirod...so i don't know much about fake currencies in ATM, but if that is the case then Banks should take necessary measures to avoid incidents like these....


By Radhakrishna Marar, Business Analyst, Oracle  | 06 09 2009 12:48:59 +0000
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The person who deals in the ATM feeding he is suppose to be whole resposible in that case.


By Mr Khirod Gogoi, Project Lead, Resigned from Global Innovosource Ltd. last year (Sep/2008)  | 06 08 2009 11:15:16 +0000
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Havent come across such a situation at all. Anyway its easy for a fake to enter an ATM if the bank has by some means accepted some fakes!! But honestly cant comment!


By Makrand Bhave, Marketing & MICE, WIZCRAFT International  | 06 09 2009 13:39:38 +0000
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