Daily Reporting of exchange of ₹ 500/- and ₹ 1000/- Bank Notes

Reserve Bank of India

RBI/2016-17/125
DCM (Plg) No.1264/10.27.00/2016-17

November 11, 2016

The Chairman / Managing Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural
Banks / Urban Cooperative Banks/ Cooperative Banks

Dear Sir,

Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Reporting and Monitoring

Please refer to Para 4 (Reporting Mechanism) of DCM, CO Circular DCM (Plg) No.1226/10.27.00/2016-17 dated November 08, 2016 on Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes in terms of which the banks are required to report daily position on exchange of SBN to RBI. In this regard, the banks are further advised that the report should contain data pertaining to exchange in cash as well as on credit to account. The banks also need to report incidence of detection of counterfeit notes on a daily basis. Accordingly, Annex /s 6 and 6A have been modified which is enclosed. Consolidated Report – 6A should be mailed by close of business in the next day.

2. Further, with reference to Para 8 of the above mentioned circular 2016, the banks are advised to furnish contact details of the Nodal officer/s, through email, by closed on business of November 11, 2016 as per the format as under:

(To be submitted in excel format)

Yours faithfully,

(P Vijaya Kumar)
Chief General Manager

Annex-6

Format for reporting daily receipt of SBN in the denominations of ₹ 500/- and ₹ 1000/- to the Controlling Office

Name of the Bank: ____________________________

Name of the Branch: __________________________ IFSC Code: ___________

SBN accepted at the branch on _____________ are as under:

Name and Designation of the Branch In-charge __________________________

Signature of the Branch In-charge ____________________________

Date:__________________ Place:_____________________

Annex 6A

Format for reporting daily receipt of SBN in the denominations of ₹ 500/- and ₹ 1000/- to RBI, DCM, Central Office

Name of Bank:

Date of Transactions:

Details of SBN received