Module: General Practice
Q25: What are the correct penalties for counterfeit notes detected in a currency chest (CC) balance during an RBI inspection?
For ₹10 notes: Recovery of loss to the extent of notional value.
For ₹50 notes: A penalty at 50% of notional value, plus recovery of notional value.
For ₹100 notes: A graded penalty based on CPM.
For ₹100 notes: A penalty at 200% of notional value, plus recovery of notional value.
For ₹50 notes: A penalty at 50% of notional value, plus recovery of notional value.
For ₹100 notes: A graded penalty based on CPM.
For ₹100 notes: A penalty at 200% of notional value, plus recovery of notional value.
✅ Correct Answer: A
During CC inspections, the penalty is a flat 200% for ₹100+ notes, not graded by CPM.
The RBI Rules on Counterfeit Notes differ here compared to soiled note remittances.
The RBI Rules on Counterfeit Notes differ here compared to soiled note remittances.