According to RBI guidelines, if five or more counterfeit notes are detected in a single transaction, what action must the Nodal Bank Officer take?​

Correct option is C

As per RBI’s “Detection of Counterfeit Notes – Reporting to Police and Other Bodies” procedure:

• When five or more counterfeit notes are found in a single transaction, the Nodal Bank Officer must immediately send the notes to the local police or Nodal Police Station and file an FIR using the prescribed Annex–IV format.

• If up to four counterfeit notes are detected, the case is reported monthly in a consolidated report to the police.

Banks must also:

• Send copies of reports or FIRs to the Forged Note Vigilance (FNV) Cell.

• Obtain acknowledgment from police authorities.

• Maintain CCTV surveillance for monitoring and evidence.

• Report data to RBI in monthly returns.