RBI/2013-14/602
DCM (CC) No.G - 20/03.39.01/2013-14

May 23, 2014

The Chairman & Managing Director /
Chief Executive Officer / Managing Director
All banks having Currency Chest

Madam/ Dear Sir,

CCTV Coverage of all cash handling operations in Currency Chests

It has been reported by one of our Regional Offices that the work of packing of soiled note remittance by a currency chest was undertaken outside the strong room/vault which resulted in CCTV failing to capture the operations of packing of remittance. While taking over the remittance by our office, shortage was detected. Subsequent preliminary enquiry has revealed that the Potdar has not accompanied the remittance.

2. In this connection, we invite attention to the instructions contained in our Circular DCM (CC) No.5622/03.39.01/2007-08 dated January 31, 2008, in which we had advised the banks, inter-alia, that coverage of CCTVs surveillance should also cover all cash operations in the vaults / strong rooms and other cash handling areas to identify any mischief / irregularity and also to the Memorandum on the procedure to be followed in connection with opening of the Currency Chests issued to the banks in which, we had advised the banks that Potdar from the Chest Remitting bank should accompany soiled note remittance.

3. We reiterate that all the instructions on remittance of soiled notes issued from time to time must be followed meticulously.

4. Please acknowledge receipt to our Regional Office under whose jurisdiction your bank functions.

Yours faithfully,

(D. Asainathan)
Deputy General Manager