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| « Reimbursement of Merchant Discount Rate (MDR) Charges for... | Inclusion of “Ujjivan Small Finance Bank Limited” in the... » |
RBI says it uses sophisticated machines for processing currency notes |
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| September, 11th 2017 |
It has been reported in a section of the press, quoting a reply to RTI application, that RBI was not using machines for counting Specified Bank Notes (SBNs). RBI actually uses sophisticated Currency Verification & Processing (CVPS) machines for checking the numerical accuracy and genuineness of the currency notes, including SBNs. These machines are way superior to the note counting machines. With a view to augmenting processing capacity, RBI is using the available machines in two shifts and has been using some machines temporarily drawn from commercial banks after suitable modifications. RBI is also exploring other options to augment processing capacity even further.
Jose J. Kattoor
Chief General Manager
Press Release: 2017-2018/685
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