Nizamabad: Farmer Flees Bank After Attempting to Clear Crop Loan with Fake Currency
When bank officials questioned Chinnasailu about the money's origin, he promptly fled the bank
A significant fake currency case has surfaced in Nizamabad district's Varni mandal after bank officials flagged over ₹2 lakh in counterfeit notes. The incident involved a local farmer who attempted to use the fake money to clear a crop loan.
The farmer, Naredla Chinnasailu of Jalalpur village, arrived at the Canara Bank branch in Varni on Thursday evening with ₹2,08,500, entirely in ₹500 notes, intended for his loan repayment. However, the bank staff detected that the entire amount was fake when processing the notes through the cash-counting machine.
When bank officials questioned Chinnasailu about the money's origin, he promptly fled the bank. A subsequent inspection confirmed the notes were counterfeit, as all the ₹500 denominations shared the same serial number.
Varni police have registered a case based on a complaint from bank officer Pankaj and have launched a search operation for the absconding farmer. This development has caused considerable concern in the Varni area regarding the circulation of fake currency, particularly in rural communities.