SBI Scam – Manager Caught with Fake currency

State Bank of India

: New Delhi, March 30, 2011   

In yet another alarming instance of fake currency deposit, The Reserve Bank of India registered an FIR against a manager of State Bank of India (SBI) for allegedly depositing fake currency. The FIR was lodged by manager of RBI, Anupam Chaudhary against the manager of SBI at P D Road branch of Kanpur with allegation of depositing fake currency notes of Rs 100 valuation in RBI treasury.

This comes as no surprise as there were several previous instances of SBI Managers found either corrupted or charged with depositing and spreading fake currencies. Incidentally, The State Bank of India also happens to be the bank facing the maximum number of issues of counterfeit or false currency notes coming out of its ATMs, as reported in various reports and complaints till date. Various reported incidents of false currency notes, especially that of Rs 500 and Rs 1000 from withdrawals from SBI ATMs is indeed something which requires high monitoring from the Government authorities. Especially after the recent report from United States suggesting a huge flow of counterfeit currency from Pakistan smuggled into India through multiple international routes aiming to disrupt the national economy, the authorities must keep a closer watch on SBI officials and Managers.

On the other hand, situations would not have been turning worse if the services of the SBI were customer centric or its officials truly approachable. After the news report “State Bank of India – How long with increasing customer complaints” published in Times of Assam on March 21, Times of Assam team have received several reports and emails from the Bank’s customers complaining about the pathetic customer service and agreeing to the fact that most of the times, the customer has to feel as if the SBI officials are doing him or her a favor, during visits to the local branches for some assistance or banking purposes. To control the issue of fake currencies as well as to help grow the nation’s economy needs a collaborative approach between the Bank and its customers. However with SBI this is far from reality.

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