The Reserve Bank of India (RBI) has determined to arrange an Automated Banknote Processing Centre (ABPC) in Jaipur for the receipt, storage and dispatch of foreign money notes. The features of the ABPC may also embody processing of banknotes acquired from foreign money chests (CCs) and financial institution branches and destruction of dirty banknotes in an automatic method. The quantity of banknotes in circulation has elevated three-fold from March 2001 to March 2019 and is anticipated to rise additional within the years to come back.
About RBI Banknotes:
- RBI is the only issuer of banknotes of the nation and liable for the administration of foreign money and all its features.
- RBI is provided with banknotes from 4 printing presses and cash from 4 mints.
- The new banknotes and cash are acquired at 19 situation workplaces of the financial institution positioned throughout the nation from the place these are additional distributed to about 3,300 CCs operated by scheduled banks beneath an company settlement with the RBI.
- The CCs act as storehouses and the foreign money saved there may be distributed to numerous financial institution branches/ATM community for distribution to the general public.
- The unfit notes withdrawn from circulation are verified by a Currency Verification and Processing System (CVPS) and destroyed by shredding.
Important takeaways for all aggressive exams:
- RBI twenty fifth Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.
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