Deputy Governor R Gandhi on Thursday termed the rare instances of fake currencies coming out of ATMs as ‘odd cases’ that should not cause too much concern, but assured the Reserve Bank is willing to re-look at guidelines for outsourced cash management agencies. “How many cases of fake notes being dispensed by over 2 lakh odd ATMsIJ One should not blow it out of proportion. It should not cause too much concern...If any changes are needed in the third-party cash handling (who fill up the cash machines), we will do that,” Gandhi told reporters here.
He also appealed to the public to develop a habit of periodically checking the notes for its genuinity. Over the past week, there have been reports of fake notes allegedly coming out of ICICI Bank and SBI cash vending machines. “Its not that all ATMs are dispensing fake notes, one odd case was noted. We cannot generalise,” Gandhi said.
Even though official data on growth has suggested that the economy has been resilient to demonetisation, Gandhi on Thursday reiterated that there will be a ‘transitory’ impact to the economy that was mentioned in the policy statement last month. He said the RBI had gone by the data only for two weeks while making the estimate on having a transitory impact.