Preserve CCTV recordings of branch operations, currency chests from Nov 8 to Dec 30: RBI to banks

RBI has advised all banks across the country to preserve the CCTV recordings of operations at bank branches and currency chests for the period from November 08 to December 30, 2016.
RBI, demonetisation, CCTV recordings, banks,branch Source: REPRESENTATIVE IMAGE
India TV Business Desk New Delhi December 13, 2016 18:04 IST

As the crackdown on black money and illegal exchange of demonetised Rs 500 and Rs 1000 notes continues, the Reserve Bank of India (RBI) has advised all banks across the country to preserve the CCTV recordings of operations at bank branches and currency chests for the period from November 08 to December 30, 2016.

In an advisory issued to all banks today, the RBI said this was necessary to “facilitate coordinated and effective action by the enforcement agencies in dealing with matters relating to illegal accumulation of new currency notes.” 

The notification was in continuation to its advisory on October 27, in which the central bank had asked all banks to cover the banking hall/area and counters under CCTV surveillance and recording and preserve the recording in order to facilitate identification of people abetting circulation of counterfeit notes.  

The RBI also said that it has issued elaborate instructions to all bank managements to undertake the central data checking to facilitate probe into any inconsistency through their internal audit mechanisms.  

“We have issued elaborate instructions to all bank managements to do the central data checking and whenever they find any inconsistency it should be pursued further through their internal audit mechanisms,” RBI deputy governor SS Mundra said today.  

He added that RBI supervisors are carrying out the exercise on various data points of banks and whenever any untoward transaction or action is noticed, due investigation would be done.

 
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