The Cubbon Park Police have initiated an investigation against a city-based security and cash management company for allegedly depositing 19 counterfeit ₹500 currency notes at the State Bank of India (SBI) Main Branch on St. Mark’s Road.
According to the complaint filed by D. Sreenivasulu, Chief Manager of SBI’s Bengaluru Main Branch on Friday, the bank received a cash deposit of ₹1,50,40,000 from a city based private firm dealing with security and cash management services on July 8.
During the verification process, bank officials allegedly detected 10 counterfeit ₹500 notes in the cash remittance.
The following day, July 9, the company deposited another ₹1,42,60,000 at the same branch. Upon scrutiny, bank officials reportedly found nine more fake ₹500 notes in the second deposit.
Following the detection of a total of 19 counterfeit ₹500 denomination notes, the bank lodged a complaint with the Cubbon Park Police, seeking legal action against those responsible for depositing the fake currency.
Based on the complaint, the police have registered a case under Section 178 of the Bharatiya Nyaya Sanhita (BNS), 2023, dealing with “counterfeiting coin, government stamps, currency-notes or bank-notes” and have commenced an investigation to ascertain the source of the counterfeit currency and determine whether there was any deliberate attempt to circulate fake notes through the banking system.
Published – August 02, 2026 10:12 pm IST
