Banking

Ritika ahuja (Querist) 24 March 2010 This query is : Resolved
I had deposited an INR 500 rupee note in a banks ATM. The bank said it was a discrepant note. The bank further stated that since I did not revert to them within a month of them sending me the letter intimating me about the same, they have destroyed the note for security reasons.

During my interaction with the bank, the bank also asked me to send them a copy of the letter which they had sent to me, which I complied.

Further to gather evidence, when I asked them to send me a copy of the letter as per their records, they simply say that the letter which I have is the same and do not provide me with the copy.

I suspect that there is something wrong about their claim of the note being discrepant. If they have a copy in their records, why arent they providing it to me inspite of repeated requests.

What are the remidies that I have if the bank is not proving me with copy of the letter as maintained in their records.

Further what are the other ways of proving that the 500 currency note deposited was descripant or not?

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Parthasarathi Loganathan (Expert) 24 March 2010
sorry and I am afraid that the facts mentioned in your case are quite contradictory to extant Regulations. You may take up the matter in forums of RBI for redressal furnishing all proof of your claims

Arvind Singh Chauhan (Expert) 24 March 2010
I agree with Parth Sir. As per the RBI circular regarding such notes. Bank can not destroy the note. If the bank think it is counterfeited bank will put a special stamp of particular size on the note and make FIR to police. Police will investigate, it is counterfeited or not. Any how bank can not destroy the note it is offence.