https://www.taxtmi.com/news?id=17623 Banks and cash-replenishment agencies must ensure notes of specified denominations are authenticated and fitness-checked by machines before re-issuance or loading into ATMs; Sponsor Banks are responsible for cash quality at White Label ATMs and dispensation of counterfeit notes through ATMs will be construed as an attempt to circulate such notes by the bank concerned. A directive under Section 35A of the Banking Regulation Act, 1949 reinforces these requirements. Reporting rules require consolidated monthly reports for small detections and FIRs for larger detections, and failure to impound or report may attract penal measures. en-us Fri, 17 Mar 2017 18:29:22 +0530 Fri, 17 Mar 2017 18:29:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17623 Banks and cash-replenishment agencies must ensure notes of specified denominations are authenticated and fitness-checked by machines before re-issuance or loading into ATMs; Sponsor Banks are responsible for cash quality at White Label ATMs and dispensation of counterfeit notes through ATMs will be construed as an attempt to circulate such notes by the bank concerned. A directive under Section 35A of the Banking Regulation Act, 1949 reinforces these requirements. Reporting rules require consolidated monthly reports for small detections and FIRs for larger detections, and failure to impound or report may attract penal measures. News - Fri, 17 Mar 2017 18:29:22 +0530 https://www.taxtmi.com/news?id=17623