**Policy Summary: RBI/2016-17/133 - Use of Indelible Ink for SBN Exchange**
This circular, issued by the Reserve Bank of India (RBI) on November 15, 2016 (RBI201617133 DCM Plg No.128010.27.00201617), outlines a Standard Operating Procedure (SOP) for banks regarding the exchange of Specified Bank Notes (SBNs). This SOP supplements Circular No. DCM Plg No.122610.27.00201617 dated November 08, 2016.
The primary measure detailed in the SOP is the application of indelible ink to the right index finger of customers exchanging SBNs at bank branches and post offices. This measure aims to ensure that individuals exchange old currency notes only once. The Indian Banks Association (IBA), in coordination with banks and in consultation with the RBI, will supply the indelible ink.
The procedure will initially be implemented in metro cities, with plans for later expansion to other areas. Each bank branch will receive 5 ml bottles of black indelible ink, equipped with a brush applicator. The designated bank official, such as the cashier, should apply the ink before disbursing the new notes, allowing a brief drying period. Banks are instructed not to deny exchange of old notes if indelible ink is present on the left index finger or any other finger of the left hand.
For further inquiries, contact the Department of Currency Management, Central Office, 4th Floor, Amar Building, Sir P.M. Road, P.B. No.1379, Mumbai – 400 001, India. Phone: +91 22 2260 3000, +91 22 2260 4000; Fax: +91 22 2266 2442; Email: cgmincdcmrbi.org.in. The circular was issued by P. Vijaya Kumar, Chief General Manager.
Key Entities Referenced
Reserve Bank of India: The central bank of India, referred to as RBI, which issued the circular.
Public Sector Banks: Banks in India with a majority government stake, addressed in the circular.
Private Sector Banks: Banks in India that are privately owned, addressed in the circular.
Foreign Banks: Banks with international headquarters operating in India, addressed in the circular.
Regional Rural Banks: Regional Rural Banks in India, addressed in the circular.
Urban Cooperative Banks: Urban Cooperative Banks in India, addressed in the circular.
State Cooperative Banks: State Cooperative Banks in India, addressed in the circular.
Specified Bank Notes: Old currency notes being exchanged, abbreviated as SBNs in the circular.
RBI/2016-17/133
DCM (Plg) No.1280/10.27.00/2016-17 November 15, 2016
The Chairman / Managing Director/Chief Executive Officer,
Public Sector Banks / Private Sector Banks/ Foreign Banks
Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks
Dear Sir,
Standard Operating Procedure (SOP) for putting indelible ink on the finger
of the customers coming to a bank branch for SBNs
Please refer to our Circular No. DCM (Plg) No.1226/10.27.00/2016-17 dated
November 08, 2016 on the captioned subject. Based on feedback received from
various quarters, it is felt that there is a need to put in place a Standard
Operating Procedure (SOP) for such exchange of Specified Bank Notes (SBNs).
Accordingly, banks are advised to put in place the following measures:
i. While exchanging the SBNs, the concerned bank branch and post offices
would put indelible ink mark on the right index finger of the customer so
as to identify that he/she has exchanged the old currency notes only
once.
ii. The indelible ink would be supplied to the bank/post offices by Indian
banks Association (IBA) in coordination with the banks and consultation
with RBI.
iii. This procedure would be introduced to begin with in the metro cities and
extended to other areas later.
iv. Each bank branch will be provided with black indelible ink bottles of 5 ml
each. The cap of the bottle includes a small brush for applying the ink.
मुद्रा प्रबंध �वभाग, केन्द्र�य कायार्लय, चौथी मंिज़ल, अमर �बिल्डगं , सर पी. एम. माग,र् पोस्ट बॉक्स 1379, मुंबई - 400 001(भारत)
फोन:-+91 22 2260 3000, 2260 4000; फ़ैक्स :- +91 22 2266 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)
Phone :- +91 22 2260 3000, 2260 4000 Fax:- +91 22 2266 2442 E mail : cgmincdcm@rbi.org.in
�हन्द� आसान है, इसका प्रयोग बढ़ाइए2
v. The indelible ink can be applied by the cashier or any other official
designated by the bank before the notes are given to the customer so
that while the exchange of notes is taking place, a few seconds elapse
which will allow the ink to dry up and prevent removal of ink.
vi. Indelible ink on the index finger of the left hand or any other finger of the
left hand may not be used as a pretext to deny exchange of old notes.
Yours faithfully,
(P Vijaya Kumar)
Chief General Manager