RBI Asks Local Currency Chests to give Notes to All Banks and not their own Branches

[Ref: RBI/2016-17/169 - DCM (Plg) No. 1508/10.27.00/2016-17 dated 2^nd December 2016]

Sub: Allocation of banknotes

Please refer to our circular DCM (Plg) No.1345/10.27.00/2016-17 dated November 22, 2016 On “Making cash available for Rabi Crop Season – Advisory to banks”.

2. In continuation of the above and to ensure that adequate allocation of banknotes are made for the rural branches, post offices and DCCBs, the banks are advised to involve the district co-ordinators (Lead District Managers) functioning under the aegis of the State Level Bankers’ Committee (SLBC) in facilitating / planning distribution of currency from the currency chests.

3. A perception has also emerged that banks with currency chests are according priority towards supplying cash to their own bank branches. These banks with currency chests are, therefore, advised to make visible efforts to dispel the perception of unequal allocation among other banks and their own branches.