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RBI/2016-17/180
DCM (Plg) No. 1683/10.27.00/2016-17
December
12, 2016
The Chairman / Managing
Director/ Chief Executive Officer
(All banks maintaining currency chests)
Dear Sir,
Distribution of Mahatma Gandhi
(New) Series Banknotes – Records
Please refer to our circular DCM
(RMMT) No. G-5/11.01.01/2016-17 dated July 15, 2016 on Receipt and
Remittance of Treasure.
2. In the wake of reported
seizures by Income Tax Department and other law enforcement agencies of
large quantities of high denomination bank notes it has been felt necessary
to put in place an appropriate reporting system to keep track of issuance
of these banknotes by the currency chests.
3. In view of the above, the banks
are advised to maintain, at the Currency Chest level and at link branches
level, a Daily Record of Issuances showing the serial numbers of Mahatma
Gandhi (New) Series banknotes in the denominations of ? 500 and above
received from RBI as remittance and issuance thereof to their own branches,
branches of other banks and post offices, branch wise and denomination wise
on daily basis. The Daily Record of Issuances should be signed by Joint
custodians and the branch manager at the end of the day. The records should
be maintained requisition wise in the format detailed below:
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Date
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Name
of the bank/branch which has requisitioned
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Denomination
? 500 / ? 2000
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Number
of pieces issued
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Details
of Serial Number (both prefix and suffix)
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Initials
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From
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To
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Joint
custodian 1
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Joint
custodian 2
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Verified
(Signature of the Branch Manager)
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4. The records should be
preserved for a period of two years and made available for scrutiny during
inspection conducted by Chest Inspection Officials of RBI and / or Banks’
Internal Auditors. Failure of the bank to maintain the records will attract
penalty in terms Para 2 (iv) of our circular
DCM (CC) No.G-3/03.44.01/2016 – 17 dated July 20, 2016
5. The above instructions take
immediate effect.
Yours faithfully,
(P Vijaya Kumar)
Chief General Manager
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