Preserve CCTV footages to spot currency hoarders: RBI to banks

Mangalore Today News Network

Mumbai, Dec 13, 2016 : RBI has asked banks to preserve CCTV recordings of operations at bank branches and currency chests to help law enforcement agencies in identifying people engaged in hoarding of new notes post demonetisation.

 

The Reserve Bank, in a notification issued today, said banks should "preserve CCTV recordings of operations at bank branches and currency chests for the period from November 8 to December 30, 2016, until further instructions".

The central bank said the move will "facilitate coordinated and effective action by the enforcement agencies in dealing with matters relating to illegal accumulation of new currency notes".
Earlier in October, the RBI had asked banks to cover the banking hall/area and counters under CCTV surveillance and recording and preserve the recording to help identify people abetting circulation of counterfeit notes.

After demonetisation, there have been reports of hoarding of new currency notes by unscrupulous elements at various bank branches across the country.

 

Courtesy: IndiaToday