[Resolved]  ICICI Bank — ICICI Bank ATM issuing Fake Notes....What can I do..


I went to ICICI ATM to take out some money. When I checked it, I found a fake Rs. 500/- note. From whatever I read on other people's experiances on net, It seems its a big racket going on at ICICI and many others have been cheated. It seems, ICICI never accepted the responsibility for it . They tore people's notes instead of replacing them. I have nothing to prove that the note came from ICICI ATM. Can the consumer do nothing or will he have to take a video camera to the ATM to prove the notes are coming from ICICI's ATM.

thanks & regards,
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Verified Support
Sep 24, 2015
ICICI Bank Customer Care's response
Dear Customer (archana_mumbai),

All our currency notes are processed at ICMC using latest technology in Machines with inbuilt software for weeding out the Fake note. There is no scope of any fake note passing through these machines. Further, we request you to write to [protected] with your contact details. Our official will contact you and address your concerns.

ICICI Bank Customer Service Team
Complaint comments  6 CommentsShareTweet


Problem with ATM Withdrawals

I wish to bring to your notice a serious issue with ATM transactions (in particular ICICI).

I used my HDFC Debit Card to withdraw Rs1100 & 1200 from an ICICI bank ATM located in Zirakpur on dt. 08.10.2008. After punching in my PIN and the amount to withdraw, the ATM worked on for a while and finally the Transaction was declined. I was stunned later to find that my account was debited with Rs1100 & 1200 even when the cash was not dispensed.
Please let me know if you have any suggestions to solve this issue or at least other means to make people aware of such problems.

Rajesh Navtiyal
Venus remedies limited
My hdfc account no. is [protected]
This is to make a point that there have been no accurate Desk Top Sorters available on the glob which can be fitted inbuilt into the ATM machine from the Back side to automatically prevent refilling of Fake Indian Currency Notes in the ATMs without interference and indulgence of Bank staff. On the contrary most of the Banks have hired private agencies for refilling only genuine notes. The reasons of issuance of fake notes from the ATM probably could be the involvement of human elements whether from within the Banks or from the outside agencies.

In deed Indian Banks should deploy Desk Top Detector instate Desk Top Sorter

In real sense ATM in our country mean "Any Time Money" and not "Automatic Teller Machine" - A Bank Branch without human being that accepts the cash Deposits and issue immediate credit to the depositor who in next movement can withdraw immediately credited amount in case of emergency. These kinds of machines are installed in highly advanced countries only.

"Automatic Teller Machine" in the advanced countries have been equipped with Currency Validator/Acceptor/ Detector rather than sorters and fitted on front face of true ATMs which return/roll back Fake/ invalid notes immediately to the depositor and accept only valid/genuine notes giving credit of valid notes only.

" Automatic Teller Machines" are also equipped with automatic Validator/ Acceptor/Detector on the Back Side of ATM for Back side office only open able by Bank staff from behind for refilling only Genuine Notes. It works in same fashions without interference of human elements to that of fixed on the front with some differences in mechanical structures facilitating refilling without element of human interference.

Any Time Money is the Indian version of ATM just can function as Cash Dispenser and not Cash Acceptor. The public are made to Deposit sealed envelop of Money and detailed Deposit Slip in the slot as that of post Box where posts are dropped in envelops. The depositor will get credit only on the next day after manual verification by cashiers of the Bank and their satisfaction about the amount mentioned in the deposit slip. The machines are highly human interfered.

Similarly ATM centers while refilling notes practically need off line accurate fake note detector which can segregate fake notes most accurately so that only genuine notes are refilled manually by removing machine detected fake notes.
In case Bankers wish to ensure that Fake Indian Currency Notes are not being handled at their counters or ATM, the Banks should sincerely deliberate on and give due consideration for deploying effective and 100 % accurate Automatic Desk Top Fake Currency Notes Detector instate of Desk Top Note Sorters which have been not compatible at Bank branches for having other than Detection functions as basic functions and detection of fake not being secondary and inaccurate.

There have been no accurate Desk Top Sorters available on the globs which can been fitted inbuilt on the ATMs for Back office uses of filling and refilling notes for maintaining stock of notes in the ATM machine for ensuring continuity of withdrawal service to the public without issuing Fake Indian Currency Notes.

Most of the Banks have hired private agencies for refilling genuine notes to ensure no fake note being issued from ATM. The reasons of issuance of fake notes from the ATM probably could be the involvement of human elements either from within the Banks or from the outside agencies.

The investment in such 100 % accurate Automatic Desk Top Fake Currency Notes Detector can be recovered in terms of avoiding losses and hassles of much complicated legal formalities involving large number of legal agencies as also for avoiding situations of loosing goodwill in the eyes of general public at large on account of Fake Indian Currency Notes being handle erroneously or by human dishonesty at different level.

Paradigm EXC 6700 –I, have emerged as 100% Accurate Automatic Desk Top Fake Currency Notes Detector. Bankers should invariably refer to and they sure will get much awaited solutions for serving nation by detecting fake notes that are likely to be handled intentionally or un intentionally by involved human elements.
The basic difference between Note Sorting Machine & Desk Top Fake Note Detector/Sorter is yet to be understood by the Indian Banks as most of the banks take NSM as the panacea of all remedies against problem of infiltration of Fake Notes in banking channel and have been repeating the very same mistakes again and again !!

Note Sorting machines basically have been designed for currency sorting processes on the basis of set criterion like designs, quality, orientations, faces, series, fitness etc but
have not been designed aptly & exhaustively for accurate fake note detection and hence NSM can not be used as a perfect substitute of Desk Top Fake Note Detector/Sorters which are exclusively designed for the specialized process of detection of Fake Notes offering other ancillary functions useful at cash desks or at ATM centers.

With deployment of accurate Desk Top Fake Note detector the huge investment can be recovered back by avoiding the losses on account of erroneous acceptance of fake notes at cash desks, as also heavy expenditures on consequential legal hassles and lose of Goodwill due to strict provisions of law regards to handling of fake notes, though handled unintentionally.

Most of the recent cases of remittance of fake notes to RBI by many famous Banks have been emerged as a result of deploying wrong equipment like NSM on which highest reliance has been placed. We feel majority of cases seems to be unintentional of human attitude problems while submitting fake notes to RBI’s treasuries.

The Speed of NSM kills the accuracy of fake note detection as it leaves behind large number of security criterions being unchecked and specifically due to incompatibility of NSM adapting digital technology which ensures the perfection. NSM can not check/scan notes pixel to pixel leading consequential inaccurate & imperfect detection of fake notes except for detecting poorly fabricated notes and thus runs with great risks of passing fake notes as genuine or rejecting genuine notes as fake or doubtful. NSM just throws out large number of doubtful notes with comparatively large number of false alarms and carries very high possibility of passing super fake notes as genuine resulting into issuance of such notes at cash counters or at ATM centers and subsequent

While as the process of 100% accurate detection of fake notes mixed up with genuine notes it self is a different operation requiring a equilibrate combination of Data based and Image based technology where large numbers of check points are to be scanned for a perfect adjudication of fake notes.

Just image based scanning in NSM bound to pass fake notes which also could be influenced by factors like crispiness, identical images, colors, sizes, ink, water mark, paper, spoilages folds, mutilated, physically damaged, soiled, corner fold, tear, tear, holes, missing corner, denomination, orientation, formats, adhesive taps, limpness, stains etc and those instate of getting detected fake notes would be sorted out under different criterions for which the sorter is set.

We feel with a view to facilitating the detection of Counterfeit notes, all bank branches/treasuries, at their cash Desks, specifically branches those have been dealing with members of public for acceptance and issuance of notes, should be equipped with Automatic Fake Currency Note detectors commonly known as Desk Top Fake Notes Detector/Sorter or Automatic Currency Validity Verification and Processing Systems (ACVVPSs), instead of Note Sorting Machine.

The kind of machines Indian Banks at cash counters needed for the fake notes detection purpose are the machine which can verify not only the images, emblems, portraits, texts, water marks, magnetic and other machine readable features of notes but also checks the physical and chemical properties of security paper, varied types of inks, resins, security threads and other materials used in production of notes, constituting large number of check points out of the interrelated combinations & permutations of varied security features in the notes, by automatic one by one pick ups of single note at a time out of the stacked packet of 100 notes of single or mixed denominations, and processes a note in 0.6 seconds and 100 notes in 1 minute. The machine meant for detection of fake notes as prime function invariably should be capable of not allowing any fake note to pass as genuine. It is possible only with the detectors specially developed considering the large number of intricacies concerning to Indian notes.
Friction type intermittent roller operated, fins driven Note Counting Machines ( NCMs ) extended and converted as fake notes detectors by fixing UV/IR/Magmatic and ordinary light sensors are technically baseless and most inaccurate devices for discriminating highly sophisticated super fake notes hidden with genuine notes, as such built up machines depend on over all surface checking of notes which is most incompatible parameter for accurate detection and discrimination of fake notes that have been incorporated with identical overall features of genuine notes. These kinds of converted FNDs can not pip into the thinnest marginal differences of security features in both fake & genuine categories of notes, although are useful for discriminating poorly fabricated notes which otherwise can be easily detected at a glance or touch feel verifications.
Detection of Super quality fake notes printed and pumped into any country with supports of other countries having strong sources of procurements of raw materials identical to original specifications & possessing full fledged infrastructures of Bank notes printing, is technically impossible with the incompatibly high scanning speed of 20 notes in a second, I e 0.05 seconds per note by note counting machines or sorters. Especially impossible in case of intricate Indian notes with vide verities of designs, quality, security features, un- uniform nature, spoilages on the notes, mishandlings etc for validity verification & detection of Fake Indian Notes.
Hence the Desk Top Fake Notes Detectors (DTFNDs) / Mini Currency Validity Verification & Processing Systems (MCVVPSs) have been only the 100% accurate solution for accurate discrimination of super fake notes and genuine note. These highly sensitive and 100% accurate devises in no case be compared with the built up High speed note counting machines or high speed sorters which are meant altogether for different operations of counting and sorting notes on basis of fixed parameters.
Fake Note from ICICI Bank ATM Located at Pimpripada road, Malad east, mumbai - 400 097

I had withdrawn INR 30000 on friday 11th Sep'15 from the ATM located at pimpripada road, malad east, mumbai - 400 097. Out of 60 notes of 500 each, 1 note was fake. I informed the matter at the call center but they kept me waiting for almost 30 mins and finally refused to lodge the complaint. Satuday & Sunday being holiday, On Monday 14th Sep'15, I visited the Shagun Mall, Goregaon east, Mumbai Branch with the note. The representative of the ICICI Bank asked me to wait and come in queue. After an hour waiting in the queue, i took my turn and shared the complaint with the ICICI representative at the desk - Mr Nilesh, Employee code 267711. Mr Nilesh told me that the Branch Manager is on leave and only the Branch Manager can address the matter. He suggested me to come the next day. The next day, I again visited the Branch. Incidentally, Mr Nilesh was present but he again said the same reply that the Branch Manager is on leave and nobody else in the Bank can attend the matter. It was so irresponsible response that i asked other representative help. Finally, another staff from the cabin turned up and heard patiently the issue. He also took the details about the sms and the account number. He said that he is sending the matter for investigation and will reverse the note tomorrow. Being assured that there is some seriousness from the side of the Bank, I visited the Branch again on 16th Sep'15, but i was surprised with no response and was told that the Bank is investigating the matter. I requested for acknowledgement of my written complaint but was refused. This left me with no hope from the branch. I have also lodged online complaint and sent registered letter at their Hyderabad office. In case i do not get any response, I shall be proceeding with Banking Ombudsman . Bank can claim installation of all the hi-tech machinery but will it ever accept and compensate for the loss due to failure of its Internal control. Second, there is no guarantee that its ATM is full proof and their employee is not taking any responsibility. On the contrary, Bank staff is ill treating their customer.

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