MEERUT Days after counterfeit currency notes with a face value of ₹ 17.29 crore were reportedly detected in the currency chest of Punjab National Bank in neighbouring Saharanpur district, fake notes worth ₹ 4.63 lakh have been found in the Axis Bank currency chest in Meerut, police said.
Civil Lines police station is the nodal police station for counterfeit currency cases in Meerut. Customers deposit cash at these branches after which the money is sent to the currency chest for examination and processing. The source of the fake currency and the manner in which it entered the banking system have not yet been established.
As many as 1,323 of these currency notes were detected during scrutiny of cash received at the Axis Bank currency chest in Mangal Pandey Nagar under the Medical police station area between December 1, 2024 and December 31, 2025. Singh, a resident of Hisar posted as the manager of the Axis Bank branch in Mangal Pandey Nagar, submitted a complaint to Meerut SSP BBGTS Murthy on September 16. Subsequently, an FIR was registered at Civil Lines police station on September 22. The currency chest is linked to 186 Axis Bank branches, according to the complaint. During verification of cash received over a period of around 13 months, bank officials detected the counterfeit notes.
