90 Bank Branches, Empowered in a go!
Nov 22 2018
Surat District Co-operative Bank Ltd. recently equipped every cash counter of theirs with Kores Empower – the first-choice pocket-sized fake note detector. One of Gujarat’s leading co-operative bank, this institution, with a legacy of 109 years, has 90 branches spread across the Surat district, and everyone of them is ready to take head on the counterfeit problem with Kores Empower.
The Gujarat Problem
Nearly a year after demonetization, Gujarat had topped the list of states in India from where counterfeit notes were recovered. One more year later, this statistic has not changed. As recently as August 2018, Fake Indian Currency Notes (FICN) with a face value of Rs. 5.94 crore were seized from Gujarat.
Though the government has set up a Terror Funding & Fake Currency Cell (TFFC) in the National Investigation Agency (NIA), the circulation of counterfeit notes continues to remain a problem as big as ever. Moreover, the counterfeiting processes have become far more sophisticated and tougher to crack. On 19th October 2018, high-quality FICN worth Rs. 1.52 lakhs were recovered in Junagadh that had security thread, watermark and other security features.
Fake Note Detectors in Banks
The best way to crack the counterfeit problem is with vigilance. And this is needed more than ever in our banks.
When a bank fails to identify a fake note, it attracts the risk of penal action from the Reserve Bank of India (RBI). While most bank cashiers are adept at identifying fake notes manually, there is always a chance of missing them – especially as counterfeiters are becoming proficient in the process. RBI has advised banks to be equipped with detecting machines, in order to prevent re-circulation of counterfeit money.
“100% fake note detection by Kores Empower”
Why do banks prefer Kores Empower over other fake note detectors? For one, it is a 100% reliable. With M-Code detection, Kores Empower is able to authenticate notes at a molecular level, thereby countering any fraudulent security feature – old or new. It is easy to use, as it detects with just a click of a button, and helpful to most cashiers. It saves them the trouble of learning new security features as new notes are released in the market.
With prompt delivery and excellent after-sales services, Kores Empower is the go-to fake note detector for any financial institution. Or in the words of the Assistant General Manager of the Surat District Co-operative Bank Ltd.
“Overall excellent, user-friendly, helpful. Couldn’t ask for better.”