RBI directs banks to act against people with fake Rs 2000 notes, suspicious accounts and transactions

After withdrawing Rs 2000 currency notes on Friday (May 19), the Reserve Bank of India said that one of the important reasons behind the move was to root out corruption. Taking one more step in the same direction, the RBI has written a letter to the heads of all banks, directing them to take stern action against people holding fake Rs 2000 currency notes and suspicious accounts.

RBI has written a letter to managing directors, chairmen, and chief executive officers of all banks, asking them to inform investigating agencies if they find any suspicious account or transaction activity at their respective banks.

The RBI has also asked the banks to stay alert about fake Rs 2000 notes, instructing them to take immediate action if they find anyone with a fake Rs 2000 note. 

Not just suspicious account, the RBI has also asked the banks to report any suspicious transaction wherever needed.

With the ₹2000 denomination bank notes set to be withdrawn from circulation, there are several Myths surrounding it. Through this series, get to know the Facts related to this decision of @RBI.#MythsVsFacts #MythBusters @nsitharaman @finminindia @ianuragthakur @Murugan_MoS… pic.twitter.com/dHjieNtJ3Y

— Ministry of Information and Broadcasting (@MIB_India) May 21, 2023

If people rush to exchange Rs 2000 notes in large amounts and deposit substantial cash that raises suspicion, the RBI has directed the banks to send a report of such accounts to investigative agencies.    

Not just deposits, but the RBI has also asked the banks to send Cash Transaction Report to investigative agencies if suspicious activity in a bank account is found.

In the letter, the RBI also said that there had been no change in the limit of the Jan-Dhan account.