Counting of Specified Bank Notes-RBI says it uses hi-tech machines

Counting of Specified Bank Notes-RBI says it uses hi-tech machines. Press had reported that RBI was not using machines for counting SBNs

Counting of Specified Bank Notes

Reserve Bank of India

September 10, 2017

RBI says it uses sophisticated machines for processing currency notes

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 

----------- Similar Posts: -----------

Leave a Reply

Subscribe to ABCAUS Newsletter

Get reliable, authentic and latest updates on taxation/corporate and other laws in your mail box free.



After subscribing, please check your email (including spam or junk folder) and activate the subscription link by clicking it.