RBI/2018-19/133
DCM (Plg.) No.2128/10.25.007/2018-19

February 28, 2019

The Chief Executive Officer/ Chairman/
Managing Director
All Banks having Currency Chests.

Madam/ Sir,

Storage of Notes and Coins

As stated in para 15 of the monetary policy statement of October 04, 2016, the Bank had constituted a Committee on Currency Movement (CCM) [Chair: Shri D.K. Mohanty, Executive Director] to review the entire gamut of security of treasure in transit. The recommendations of the Committee have been examined and the following, relating to standardisation of storage facilities in Currency Chests (CCs), shall be implemented forthwith:

1. The CCs having large vault space shall consider segregation of storage of coins inside the vault duly segregated by mesh structure / barricades without obstructing clear view and CCTV coverage.

2. Such of the CCs which do not have sufficient storage space inside the vault to segregate storage of coins may continue to store the coins under CCTV coverage, in a manner operationally convenient to them keeping in view the spirit of the circular, so that notes and coin spaces are clearly identifiable.   

3. Banks shall devise suitable processes to clearly colour code their bins for identification of denomination details and clear segregation of fresh, re-issuable and soiled notes, which shall be uniformly applied across their Currency Chests. The bins containing notes that are yet to be processed on NSMs shall also be colour coded separately.

2. Confirmation of implementation across all Currency Chests of your bank should be sent to Issue Department of the Regional Office under whose jurisdiction your Head Office is situated by September 30, 2019.

Yours faithfully,

(Aviral Jain)
General Manager