Five Arrested for Depositing Counterfeit Rs 500 Notes in Axis Bank ATM in Pune’s Daund
Daund, 22nd July 2026: The Daund Police have arrested five persons for allegedly depositing counterfeit ₹500 currency notes into a cash deposit machine (CDM) at an Axis Bank branch in Daund, officials said.
The accused have been identified as Hitesh Chalwadi, Prem Manjule (23), a resident of Aishwarya Society on Alandi Road, Vinod Munde (29) of Manaji Nagar, Ranjit Digrase (36) of Bhosari, Pune, and Omkar More (22), a resident of Kej in Beed district.
According to Police Inspector Hemant Shedge, an unidentified person deposited 10 counterfeit ₹500 notes, amounting to ₹5,000, into the Axis Bank cash deposit machine on July 16.
The fake currency was detected during the bank’s routine cash verification process, following which Mahesh Mane, Branch Manager of Axis Bank, lodged a complaint with the Daund Police.
During the investigation, police examined CCTV footage from the bank, which led them to identify Hitesh Chalwadi as one of the suspects. Further investigation allegedly uncovered a network involved in circulating and depositing counterfeit currency, leading to the arrest of the remaining accused.
The accused were produced before a court, which remanded them to seven days of police custody. Police are continuing the investigation to trace the source of the counterfeit currency and ascertain whether the accused have links to a larger fake currency racket.
