Farmer flees as Nizamabad bank detects fake currency deposit

A farmer in Nizamabad attempted to deposit Rs 2.08 lakh in counterfeit notes at a Canara Bank branch in Varni, triggering alarm among officials. The farmer fled the scene and remains absconding, while police have registered a case and launched an investigation.

Nizamabad: A farmer who attempted to deposit money at a bank in Varni to clear a crop loan after the panchayat elections triggered alarm on Thursday after the currency was found to be fake. Bank officials alerted the police, following which the farmer fled the premises and is now absconding.

The farmer, identified as N Chinna Sayulu of Jalalpur village in Varni mandal, arrived at a Canara Bank branch carrying 417 currency notes of Rs 500 denomination. While counting the cash using a counting machine, the cashier grew suspicious and informed branch manager Pankaj Kumar.

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On verification, bank officials found that all 417 notes, amounting to Rs 2,08,500, were counterfeit. When officials attempted to question Chinna Sayulu, he reportedly ran out of the bank, Sub-Inspector Raju said.

Based on a complaint filed by the bank manager, police registered a case and launched an investigation. Efforts are on to trace the farmer, whose whereabouts remain unknown.

The incident soon took a political turn, with allegations that the fake currency was distributed during the recent gram panchayat elections by a political party.

BRS spokesperson Manne Krishank alleged on social media platform X that the farmer had received the money from a local Congress supported sarpanch. He further questioned the credibility of the investigation, citing earlier claims linking a fake currency racket to an alleged encounter involving Riyaz, and accused the Congress government of failing to ensure a fair probe.