The accused was caught in Hyderabad by Allahabad Bank staff while allegedly trying to deposit fake currency.
A man was arrested on Tuesday for trying to deposit fake notes in the denomination of Rs 500 and Rs 2000 with ‘Children Bank of India’ written on them in Hyderabad.
According to reports, the accused has been identified as Yousuf Shaikh. He was arrested when he came to Malkajgiri branch of Allahabad bank to deposit cash.
"The cashier in the bank noticed 'Children Bank of India' written on the notes and immediately alerted the bank manager. The bank then informed the police," reported news18.com
The accused was trying to deposit Rs 9.90 lakhs with 'Children Bank of India' written on it.
This is the fourth such incident where the 'Children Bank of India' notes have surfaced.
Last week, an automated teller machine in south Delhi's Amar colony area dispensed a fake Rs 2,000 currency note with "Children Bank of India" printed on it.
In a similar case, a Delhi resident Rohit Kumar had been dispensed four fake notes of Rs 2,000 denomination, bearing "Churan label" and "Children Bank of India" printed on it, from an SBI ATM in Sangam Vihar in south east Delhi, on February 6.
On February 24, a 27-year-old man working at an ATM cash loading company was arrested. He was accused of exchanging five original Rs 2000 currency notes with the 'Children's bank of India' notes that were dispensed from the SBI ATM in New Delhi.
On November 8, when Prime Minister Narendra Modi de-legalised the use of Rs 500 and Rs 2,000 notes, apart from eradicating a parallel economy, he said the move was to suck out counterfeit currency making its way into the country from across the borders which was largely responsible for funding terror.
Demonetization - as the process has been named since - sucked out Rs 14 lakh crore from the economy overnight and left the countrymen stranded, unable to withdraw their own money from the banks and ATMs. The government soon issued new Rs 500 and Rs 2000 notes and said they had several new security features that would make it impossible for perpetrators to replicate the new banknotes.
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