SBI says no fake note likely from its ATMs, branches

New Delhi, Feb 22 (IANS) The State Bank of India (SBI) on Wednesday said "no fake note is likely to be dispensed through its ATMs at any time" as it has state-of-the-art note sorting machines.

Reacting to media reports that an SBI ATM here dispensed fake 2,000 rupee notes, an SBI statement from Mumbai said the bank has in place, at all its currency chests, a very robust system for monitoring the quality of notes.

"All notes received and dispensed by the bank, either through its ATMs or its branches, are processed through the latest state-of-the-art note sorting machines. These machines are equipped with templates of all legal tender in the country and any note not conforming to security features is separated as 'suspect note' for further manual scrutiny. Thus, no fake note is likely to be dispensed through our ATMs at any time," the bank statement said.

The SBI, however, said that the ATM in question has reportedly been sealed by Delhi Police for further investigation.

"As the possibility of fake notes from SBI ATMs is very remote, the bank suspects involvement of some miscreants with mischievous intent. However, further investigations are underway," it added.

Dispensing of fake 2,000 rupee notes was reported from a SBI ATM in south Delhi on February 6, which had 'Children Bank of India' printed in place of Reserve Bank of India, according to an FIR accessed by IANS.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)