Reserve Bank of India
Department of Banking Operations and Development
Centre - 1, World Trade Centre
Cuffe Parade, Colaba, Mumbai - 400 005
November 7, 2001
Kartika 16, 1923(S)
DBOD No. Dir. BC. 42/13.03.00/2001-02
In exercise of the powers conferred by Section 35A of the Banking Regulations Act, 1949, the Reserve Bank of India being satisfied that it is necessary and expedient in public interest so to do, hereby directs that hereinafter and with immediate effect;
- Banks shall do away with stapling of fresh / re-issuable / non-issuable note packets, and instead secure note packets with paper bands.
- Banks shall sort notes into issuable and non-issuable, and issue only clean notes to public. Banks shall tender soiled notes in unstapled condition to Reserve Bank of India in inward remittances through Currency Chests.
- Banks shall forthwith stop writing of any kind on watermark window of bank notes.
( K. L. Khetarpaul )