SBN to be Treated as “Soiled Currency” in RBI Calculations

[Ref: RBI/2016-17/226 – DCM(Plg) No. 3217/10.27.00/2016-17 dated 13th February 2017]

Sub: Deposit of Specified Bank Notes (SBNs) – Chest Balance Limit / Cash Holding Limit

Please refer to Paragraph 2 (ii) of our circular DCM (Plg) No. 1459/10.27.00/2016-17 dated November 29, 2016 on the captioned subject. As indicated thereat, a review was undertaken and it has been decided that till further instructions SBNs deposited in the currency chests, since November 10, 2016, will be considered as part of the chest balance in the soiled note category but such deposits will not be reckoned for calculating Chest Balance Limit / Cash Holding Limit.