**Summary:**
This circular, RBI201617136 DCM Plg No.129110.27.00201617 dated November 16, 2016, issued by the Reserve Bank of India (RBI) to the Chairman/Managing Director/Chief Executive Officer of Public Sector Banks, Private Sector Banks, Foreign Banks, Regional Rural Banks, Urban Cooperative Banks, and State Cooperative Banks, addresses the delayed reporting of Specified Bank Notes (SBNs) data following the withdrawal of the legal tender character of existing ₹500 and ₹1000 bank notes. The circular references the earlier communication DCM, CO circular DCM Plg No.122610.27.00201617 dated November 08, 2016. Banks are instructed to submit daily data in Annex 6A to RBI, DCM, CO via email before 2300 hrs (11:00 PM) every day to ensure timely collation and consolidation of data. The circular is issued by Suman Ray, General Manager, RBI.
Key Entities Referenced
Reserve Bank of India (RBI): The central bank of India, recipient of the daily reports.
DCM Plg No.1291/10.27.00/2016-17: Reference number of the RBI circular regarding withdrawal of legal tender.
Public Sector Banks: Banks in India with majority government stake, required to report data.
Private Sector Banks: Banks in India that are privately owned, required to report data.
Foreign Banks: Banks with foreign headquarters operating in India, required to report data.
Regional Rural Banks: Regional level banks in India, required to report data.
Urban Cooperative Banks: Cooperative banks located in urban areas in India, required to report data.
State Cooperative Banks: Cooperative banks operating at the state level in India, required to report data.
Specified Bank Notes (SBNs): Refers to the 500 and 1000 bank notes that were demonetized.
Suman Ray: General Manager at RBI, signatory of the circular.
RBI/2016-17/136
DCM (Plg) No.1291/10.27.00/2016-17 November 16, 2016
The Chairman / Managing Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural
Banks / Urban Cooperative Banks/ State Cooperative Banks
Dear Sir
Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank
Notes – Daily Reporting
Please refer to Para (4) of DCM, CO circular DCM (Plg) No.1226/10.27.00/2016-17
dated November 08, 2016 on the captioned subject advising the banks to send daily
report to RBI with details of Specified Bank Notes (SBNs). It has been observed that
the banks are sending the reports with significant delay causing severe
inconvenience in collation and consolidation of data at RBI.
2. The banks are, therefore, advised to send daily data in Annex 6A before 2300 hrs
everyday by email to RBI, DCM, CO.
Yours faithfully,
(Suman Ray)
General Manager