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Banks told to retain CCTV footage
Vijayawada: Bankers are taking measures as per RBI guidelines for identification of people abetting circulation of counterfeit notes.According to reliable information, banks are told to preserve CCTV recordings without deleting after one month until they will receive further orders from RBI. The bankers are also preparing separate lists on daily transactions in the banks, including deposits,
Vijayawada: Bankers are taking measures as per RBI guidelines for identification of people abetting circulation of counterfeit notes.
According to reliable information, banks are told to preserve CCTV recordings without deleting after one month until they will receive further orders from RBI.
The bankers are also preparing separate lists on daily transactions in the banks, including deposits, cash withdrawals to submit to RBI.
In the wake of reported seizures by Income Tax Department and other law enforcement agencies of large quantities of high denomination notes and large number of deposits of banned notes in banks, the RBI directed banks to put in place an appropriate reporting system to keep track of transactions in banks and issuance of banknotes by the currency chests.
As per fresh guidelines issued by RBI on Tuesday, banks were advised to preserve CCTV footage of operations taking place at bank branches and currency chests for the period from November 8 to December 30, 2016.
Reserve Bank felt that it is necessary to take effective action by the enforcement agencies in dealing with matters relating to illegal accumulation of new currency notes.
Banks are also told to maintain separate list at the Currency Chest level and their link branches level, a daily record of issuance showing the serial numbers of Mahatma Gandhi (new) series bank notes received from RBI.
The records should be branch-wise and denomination-wise on a daily basis, said a senior bank officer on Tuesday.
The Daily Record of Issuance should be signed by joint custodians and the branch manager at the end of the day and the records should be preserved for a period of two years and should be made available for scrutiny during inspection conducted by chest inspection officials of RBI and banks’ internal auditors.
In addition, banks have to report detection of counterfeit notes on a daily basis to higher authorities.
The bank branches in Andhra Pradesh were also asked to send the collected banned notes to RBI, Hyderabad before December 22.
