ISSUER OF CURRENCY

The Reserve Bank is the nation's sole note issuing authority. Along with the Government of India, we are responsible for the design, production and overall management of the nation's currency, with the goal of ensuring an adequate supply of clean and genuine notes.

Withdrawn with effect from November 16, 2021, February 18, 2022, May 02, 2022, May 13, 2022, May 21, 2024, July 12, 2024 & October 01, 2024
PDF - Distribution of Banknotes and Coins– Alternative Avenues ()
Date : Sep 10, 2013
Distribution of Banknotes and Coins– Alternative Avenues

RBI/2013-14/244
DCM (Plg) No.G12/10.65.03/2013-14

September 10, 2013

The Chairman & Managing Director /
Chief Executive Officer
(All Scheduled Commercial banks including RRBs)

Madam/ Dear Sir,

Monetary Policy Statement for 2013-14 - Distribution of Banknotes and Coins – Alternative Avenues

Please refer to Para 110 of the Monetary Policy Statement 2013-14 wherein it was stated that “With a view to effectively meeting the growing demand for banknotes and coins in the country, there is a need for identification of alternative avenues for their distribution by banks. For this purpose, banks may explore the possibility of offering these services through Business Correspondents (BC) and consider engaging the services of Cash in Transit (CIT) entities for the purpose of distribution of banknotes and coins, thereby addressing the last mile connectivity issues.”

2. We invite attention to DBOD circular No.BAPD.BC. 46/22.01.009/2013-14 dated September 2, 2013, permitting banks to include distribution of banknotes and coins also in the scope of activities which may be undertaken by Business Correspondents (BCs).

3. Banks are accordingly advised to explore the possibility of enlisting the services of their BCs for carrying out the various currency management functions.

4. Please acknowledge receipt.

Yours faithfully

(B P Vijayendra)
Principal Chief General Manager

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