Writing on currency notes in front of banker can lead you to troubleRBI CLEAN NOTE POLICYMUDASIR YAQOOBSrinagar, Dec 12: Next time you go to a bank for depositing money, make sure you don’t write anything on the currency note in front of a banker. Reason, the RBI has advised all the banks not to accept such notes from January 1, 2014 on which anyone writes anything “in front of a banker.”Recently, when RBI deputy governor K.C. Chakrabarty was asked if banks would stop accepting such notes which havesome writing on it, from 1 January 2014 onwards, he said: “If anyone writes anything on the currency note at the front of a banker then he may deny to accept that note so that this mistake is not repeated again bythat person.”According to sources in an effort to have Clean Note Policy (CNP), RBI has advised banks to discourage writing on the currency notes by the people.“The Reserve Bank aims to create awareness among peopleabout not writing anything on the currency notes and that theyneed to keep them clean,” said an RBI official.He said the rules need to be strictly followed under the ‘cleancurrency policy.’According to experts writing on Indian currency note is a “punishable act under Section 35A of the Banking Regulation Act 1949.”Interestingly, the RBI has already banned on stapling of notes.However, the banks operating in Jammu and Kashmir deny to have received any such written instruction in this behalf from the central bank.A senior official of Jammu and Kashmir Bank said: “So far we have no such instruction from the RBI.”However, he added: “The writing on currency notes, disfiguring the watermark impression and rendering it difficult for easy recognition have come to the notice of RBI,” he said.When asked if banks would stopaccepting such notes from January 1, 2014 onwards, he said: “If anyone writes anything on the currency note at the frontof a banker then he may deny accepting that note so that this mistake may not be repeated again by that person. The provision is also currently in force.”He said: “The banks have been asked by RBI not to issue or re-issue soiled notes to public. Such practices are against the ‘Clean Note Policy´ of RBI.”Senior Manager, Punjab National Bank (PNB), Mukhtar Ahmad Hundoo said: “The objective of the RBI’s ‘Clean Note Policy’ is to give the citizens good quality currency notes and coins, while the soilednotes are withdrawn out of circulation.“I have read this notification on RBI’s website but we have not received official communication in this regard as yet,” Hundoo said.Repeated attempts to have comments from RBI regional office J&K went futile, as all officials landline numbers were out of order.
Posted on: Sun, 15 Dec 2013 15:48:07 +0000
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