All scribbled currency notes are not illegal- RBI
Time and again rumours appear in social media that banks will not accept currency notes with scribbling on them. RBI has been giving denial statements of having issued such notifications. In fact dismissing the above types of romours, RBI Governor on December 15, 2015 had issued a statement in an audio message assuring members of…
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Currency Distribution and Exchange Scheme (CDES) of RBI
Cash management refers to a broad area of finance involving the collection, handling, and usage of cash. Issuance and distribution of cash is one of the important functions of Reserve Bank of India. The RBI has agency arrangements mainly with scheduled commercial banks, under which a currency chest is managed. Bank notes and coins are…
Old habits die hard, people still inscribing on bank notes
Some members of public as well some organizations write the numbers, name or messages on the watermark window of currency notes.RBI has been educating the general public and bank officials about the importance of security features of bank notes which distinguishes it from fake notes. Despite, RBI requesting the public, not to deface the window…
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