Railway, BEST in the trap of fake currency notes
One of the most essential services in Mumbai, Railways and BEST, are surprisingly trapped by fake currency notes.
Mumbai: Railway and BEST, having turnover in crores through transportation are facing severe losses in lacks every year due to fraudulent currency notes. Both the authorities do not possess an appropriate technology to identify fake notes resulting increase in such notes. Concerned authorities claim to find out the culprits and take strict action against them but still Railways and BEST are bearing huge losses.
More than 45 lack commuters travel by BEST every day. It is already facing losses due to inflation and fake currency notes are adding to the problem. Almost Rs 1,00,500 and 1000 fake currency notes had been found putting these organizations in financial difficulties.
These fraud notes are being used by taking advantage of huge crowd of commuters in railway. But railway authorities have now started training its staff to identify fake notes with the help of RBI. Till date, 276 employees are trained. We will succeed to end this problem of fraud currency notes in near future.
Nitin David, PRO, Western Railway
All the Clarks, Conductors and everyone involved in monetary transactions of BEST are trained through RBI to identify false currency notes.
Virendra Bagul, PRO, BEST
Amount of fraud currency notes found to BEST:
2009: Rs 43,500
2010: Rs 60,100
2011: Rs 1, 86,000
2012: Rs 1, 70, 900
2013: Rs 1, 29,850
Amount of fraud currency notes found to Railway:
2010: Rs 1, 20,000
2011: Rs 1, 25, 000
2012: Rs 1, 25,000
2013: Rs 92, 500