DCM (Plg) No.1438/10.27.00/2016-17
The Chairman / Managing
Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural
Banks / Urban Cooperative Banks/ State Cooperative Banks
Chest Guarantee Scheme for
Specified Bank Notes (SBNs) – CGSS
Please refer to our circular DCM (Plg) No.1430/10.27.00/2016-17 dated
November 27, 2016 on the captioned subject.
2. With a view to expand the
ambit of the CGSS, it has been decided that banks operating currency chests
may be allowed to operate CGSS if they have additional space in their
existing currency chest or additional storage space at the same centre
which is nearly as safe and secure as that of a currency chest.
3. Requisite approval for the
above will be granted by our Regional Office (RO) concerned, on receipt of
request from any bank subject to the terms and conditions as laid down in
the above mentioned circular and supervisory convenience.
(P Vijaya Kumar)
Chief General Manager