CLEAN NOTE
POLICY
RBI/2012-13/500
DCM (NPD) No.5133/ 09.39.000/2012-13
1. 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.
Regards
CA. Mona Singhal
Partner
Arpit Gupta & Associates
Chartered Accountants
701, Nirmal Tower,
26, Barakhamba Road,
Connaught Place, Delhi-110001
Mobile:- +91-9873082769
Website: www.caaga.co.in
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