We have heard and read about wear and tear of Currency Notes and wrong practices in handling those currency notes. We are often stumbled upon awareness SMSs or images which tell us about how wrong practices in handling those notes are causing loss of millions to the economy ..! Well, I am not sure about those number and I don’t second that. But, Recently I came across one RBI notification which is notified to all Banks including Co-Operative Banks as well. Below is the complete copy of it.
RBI/2012-13/500
DCM (NPD) No.5133/ 09.39.000/2012-13May 10, 2013
The Chairman and Managing Director / The Chief Executive Officer
All Banks (including Co-operative banks and RRBs)Madam / Dear Sir
Clean Note Policy
In recent periods, instances of certain branches of banks continues to follow old practices like stapling, writing number of note pieces in loose packets on watermark window of notes disfiguring the watermark impression and rendering it difficult for easy recognition have come to our notice. Further, it has also been observed that certain bank branches do not sort notes into re-issuables and non-issuables, and issue soiled notes to public. Such practices are against the “Clean Note Policy” of Reserve Bank of India.
2. In this connection we invite a reference to Reserve Bank of India’s Directive DBOD No. Dir. BC. 43/13.03.00/2001-02 dated November 7, 2001 and reiterate that:
a) banks should do away with stapling of any note packet and instead secure note packets with paper bands,
b) banks should sort notes into re-issuables and non-issuables, and issue only clean notes to public; and,
c) banks should forthwith stop writing of any kind on watermark window of bank notes.
Yours faithfully
(B. P. Vijayendra)
Chief General Manager