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Banks asked to set up booths in to detect fake note

Banks asked to set up booths in to detect fake note

Bangladesh Bank has asked scheduled banks to set up booths in the cattle markets ahead of Eid-ul-Azha to detect fake or forged notes considering the huge cash transaction. To this end, the central bank asked the commercial banks to assign dedicated officers as coordinators of respective banks and mail the designations and mobile phone numbers of the officers to Bangladesh Bank, as per a central bank circular issued on Wednesday (Jun 21).

The scheduled banks have also been asked to coordinate with the branch offices of the central bank outside Dhaka to set up the booths.

Meanwhile, the banks will conduct the operation under the supervision of Sonali Bank where there is no central bank branch office, according to the circular.

To ensure smooth transactions, the banks will be able to contact the local authorities, including city corporations, district offices, municipalities and law enforcement agencies.

The banks will also ensure the counting of notes by setting up a cash counting machine at every booth, it said.

If any fake note is found, legal steps should be taken against the people involved in circulating them, the circular said.

The bank branches should also run videos on big screens highlighting the security features of bank notes until Eid.