Counting of Specified Bank Notes-RBI says it uses hi-tech machines. Press had reported that RBI was not using machines for counting SBNs
Reserve Bank of India
September 10, 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
Sundry creditors outstanding in books can’t be treated income u/s 41(1) merely because recovery was barred by limitation - ITAT…
For claiming exemption u/s 11, assessee is required to furnish return of income within time allowed u/s 139 and not…
FAQs on amendment proposed to rates of Tax Collection at Source u/s 394(1) of the Income-tax Act, 2025 Income Tax…
FAQs on amendment proposed in Updated return provisions under section 263(6) of Income Tax Act 2025 by Budget 2026-27 Income…
Income Tax Department has issued a FAQ on amendments proposed to provisions related to Tax Deduction at Source (TDS) and…
Baggage Rules 2026 to rationalise existing rules to address genuine concerns faced by passengers at airports The earlier Baggage Rules,…