**Summary:**
The Reserve Bank of India (RBI) issued a circular (RBI/2022-23/40 DCM Admin No. S17219/01.01.02/2022-23) on May 2, 2022, announcing the withdrawal of a specific circular, effective from the close of business on the same day. This action is based on the interim recommendations of the Regulations Review Authority (RRA) 2.0. The withdrawn circular, DCM CC No. 288503/03.35.01/2017-18 dated February 09, 2018, pertained to the levy of penal interest on delayed reporting. The circular is applicable to all banks having currency chests. Contact information for the Department of Currency Management, Central Office, is provided: Address: 4th Floor, Amar Building, Sir P.M. Road, P.B. No. 1379, Mumbai – 400 001; Tel: 91-22-2260 3000; Fax: 91-22-2262 2442; Email: cgmincdcm@rbi.org.in. Suman Ray, Chief General Manager-in-Charge, is the signatory.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for monetary policy and regulation of the banking system.
Regulations Review Authority RRA 2.0: An authority established to review and streamline regulations.
All Banks having Currency Chests: Refers to all banks that maintain currency chests, which are secure storage facilities for banknotes and coins.
Department of Currency Management, Central Office: A department within the Reserve Bank of India responsible for currency management.
Mumbai, Maharashtra: City in India where the Central Office of the Department of Currency Management is located.
Suman Ray: Chief General Manager-in-Charge at Reserve Bank of India.
DCM CC No. 288503.35.01/2017-18: Circular number issued by Department of Currency Management (DCM) related to currency chests.
February 09, 2018: Date of the circular regarding Levy of Penal Interest Delayed Reporting
भारतीय �रज़व� ब�क
RESERVE BANK OF INDIA
www.rbi.org.in
RBI/2022-23/40
DCM (Admin) No. S172/19.01.010/2022-23 May 02, 2022
All Banks having Currency Chests
Madam/ Dear Sir,
Regulations Review Authority (RRA 2.0) – Interim Recommendations –
Withdrawal of Circulars
Please refer to the Press Release dated May 02, 2022 issued on the captioned subject.
2. The circular listed in the Annex is withdrawn with effect from close of business today.
Yours faithfully,
Sd/-
(Suman Ray)
Chief General Manager-in-Charge
Encl: As above
मुद्रा प्रबंध �वभाग, केन्द्र�य कायार्लय,4 थी मंिज़ ल ,अमर �बिल्डगं , सर पी एम रोड, पो बो सं 1379, मुंबई -400 001(भारत)
दरू भाष + 91-22-2260 3000 फैक् स : + 91-22-2262 2442 ई-मेल : cgmincdcm@rbi.org.in
Department of Currency Management, Central Office, 4th Floor, Amar Building, Sir P.M.Road, P.B.No.1379, Mumbai-400 001
(India) Tel: + 91-22-2260 3000 Fax: + 91 -22-2262 2442 E-mail: cgmincdcm@rbi.org.inAnnex
List of Circulars withdrawn
Sr Circular No. Date Subject
No.
1. DCM (CC) No. February 09, 2018 Levy of Penal Interest – Delayed
2885/03.35.01/2017-18 Reporting