Fake Nepali currencies of 1000 and 500 denominations found in Waling

Published On: November 21, 2019 11:11 AM NPT By: RSS

Counterfeit notes of 1000 denominations found at NCC Bank in Dipayal, Doti. The two counterfeit notes were brought to the bank by a customer to deposit in the bank. Photo: Bimal Bahadur Bista/Rss

WALING, Nov 21: The use of fake Nepali currencies of 500 and 1000 denominations has been reported in Waling, Syangja, recently.

The National Cooperatives Bank (NCB), Waling branch which received those currencies from three cooperatives in Waling were found to be counterfeit, according to NCB, Waling branch chief Subash Acharya.

The cooperatives, upon suspicion about those currencies, had sent them to the Nepal Rastra Bank in Pokhara to confirm whether they were genuine or not. The central bank confirmed that they were counterfeit ones.

Acharya shared that four currency notes of 500 denominations and one of 1000 denomination was received by the cooperative between Monday to Thursday last week.

He also urged all financial institutions to take precautions while collecting currencies in their institutions.
There is a strong likelihood of illegal trade of such counterfeit currencies doing rounds in Waling and other places, opined Acharya, urging the other financial institutions to keep advanced machines capable of examining and sorting out fake currencies.