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CCTV Must Cover All Cash Ops in Currency Chests

Current · Source: Reserve Bank of India · RBI/2013-14/602 · issued 23 May 2014 · ~1 min read
Quick answerRBI reiterates that all cash handling in currency chests—including soiled note packing—must be under CCTV surveillance. A recent shortage occurred when packing was done outside the strong room, missing camera coverage. Banks must ensure Potdar accompanies remittances.
The rule, in the simplest words
How it plays out — a real example

Rahul, a forex & trade-finance officer in Indore, made sure to position CCTV cameras to capture all cash handling operations in their currency chest, including soiled note packing outside the strong room. He also ensured that the Potdar from the remitting bank accompanied every soiled note remittance, following the strict instructions from the RBI. This helped prevent any potential shortages and ensured smooth operations in their currency chest.

What changed

RBI issued this circular after a specific incident where soiled note packing was done outside the strong room, not captured by CCTV, leading to a detected shortage. The circular reiterates existing instructions from January 2008 and the Currency Chest Memorandum, emphasizing that Potdar must accompany remittances.

What it means for you

Banks must ensure CCTV coverage extends to all cash handling areas, not just vaults, to prevent fraud or errors. Non-compliance can lead to shortages and regulatory scrutiny. This reinforces the need for strict adherence to remittance procedures, including Potdar accompaniment.

What you must do

Who it affects

All banks operating currency chests, Currency chest managers and staff, Regional offices of RBI overseeing currency chests

❓ Common questions

What triggered this circular?

A specific incident where soiled note packing was done outside the strong room, not under CCTV, leading to a detected shortage during remittance takeover by RBI.

What are the key compliance requirements?

CCTV must cover all cash handling areas, including packing operations. Potdar must accompany soiled note remittances. All prior instructions on remittance must be followed meticulously.

📜 Read the original circular — full text as issued by RBI
RBI/2013-14/602 DCM (CC) No.G - 20/03.39.01/2013-14 May 23, 2014 The Chairman & Managing Director / Chief Executive Officer / Managing Director All banks having Currency Chest Madam/ Dear Sir, CCTV Coverage of all cash handling operations in Currency Chests It has been reported by one of our Regional Offices that the work of packing of soiled note remittance by a currency chest was undertaken outside the strong room/vault which resulted in CCTV failing to capture the operations of packing of remittance. While taking over the remittance by our office, shortage was detected. Subsequent preliminary enquiry has revealed that the Potdar has not accompanied the remittance. 2. In this connection, we invite attention to the instructions contained in our Circular DCM (CC) No.5622/03.39.01/2007-08 dated January 31, 2008, in which we had advised the banks, inter-alia, that coverage of CCTVs surveillance should also cover all cash operations in the vaults / strong rooms and other cash handling areas to identify any mischief / irregularity and also to the Memorandum on the procedure to be followed in connection with opening of the Currency Chests issued to the banks in which, we had advised the banks that Potdar from the Chest Remitting bank should accompany soiled note remittance. 3. We reiterate that all the instructions on remittance of soiled notes issued from time to time must be followed meticulously. 4. Please acknowledge receipt to our Regional Office under whose jurisdiction your bank functions. Yours faithfully, (D. Asainathan) Deputy General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/602 · issued 23 May 2014. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
⚙️ Operations
  • Verify that CCTV cameras cover all cash handling operations in currency chests, including packing of soiled notes outside strong rooms.
📜 Compliance
  • Ensure Potdar from the remitting bank accompanies every soiled note remittance as per the Currency Chest Memorandum.
  • Acknowledge receipt of this circular to your respective RBI Regional Office.
  • Review and reinforce all existing instructions on soiled note remittance with chest staff.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template

Example: if you are an Operations officer at a bank this circular applies to (All banks operating currency chests, Currency chest managers and staff, Regional offices of RBI overseeing currency chests), your first concrete step on “CCTV Must Cover All Cash Ops in Currency Chests” is: “Verify that CCTV cameras cover all cash handling operations in currency chests, including packing of soiled notes outside strong rooms.” (RBI issued this 23 May 2014).

  1. Circular: RBI/2013-14/602 -- CCTV Must Cover All Cash Ops in Currency Chests
  2. Issued: 23 May 2014
  3. Action required: Verify that CCTV cameras cover all cash handling operations in currency chests, including packing of soiled notes outside strong rooms.
  4. Action required: Ensure Potdar from the remitting bank accompanies every soiled note remittance as per the Currency Chest Memorandum.
  5. Action required: Acknowledge receipt of this circular to your respective RBI Regional Office.
  6. Action required: Review and reinforce all existing instructions on soiled note remittance with chest staff.
  7. Owner: ____________ Target date: ____________
  8. Board/committee approval needed? Y / N
  9. Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

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Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=8895&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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