**Summary:**
This Reserve Bank of India (RBI) circular, dated November 24, 2016, addresses the cash requirements of pensioners and Armed Forces personnel following the withdrawal of Specified Banknotes (SBNs). The RBI advises all Public Sector Banks, Private Sector Banks, Foreign Banks, Regional Rural Banks, Urban Cooperative Banks, State Cooperative Banks, and District Central Cooperative Banks to ensure adequate cash availability to meet the anticipated demand from government officials and pensioners receiving electronic salary/pension payments. Banks are specifically instructed to: (i) ensure adequate cash availability for pensioners and (ii) ensure adequate supply at military outposts for the cash requirements of Armed Forces personnel. For inquiries, contact P. Vijaya Kumar, Chief General Manager, Department of Currency Management, Central Office, 4th Floor, Amar Building, Sir P.M. Road, P.B.No.1379, Mumbai 400 001, India. Telephone: 91 22 2266 1644; Fax: 91 22 2266 2442; Email: helpdcm@rbi.org.in. The reference number for this circular is RBI/2016-17/154 DCM (Plg) No.1384/10.27.00/2016-17.
Key Entities Referenced
Reserve Bank of India: The central bank of India, the issuing authority of the notification.
Specified Banknotes: Banknotes that have been withdrawn of their legal tender status.
Public Sector Banks: Banks in India with a majority government stake.
Private Sector Banks: Banks in India that are not government-owned.
Foreign Banks: Banks operating in India but headquartered in another country.
Regional Rural Banks: Regional Rural Banks in India
Urban Cooperative Banks: Urban Cooperative Banks in India
P Vijaya Kumar: Chief General Manager of the Reserve Bank of India, signatory of the notification.
भारतीय �रज़व र् बक�
RESERVE BANK OF INDIA
www.rbi.org.in
RBI/2016-17/154
DCM (Plg) No.1384/10.27.00/2016-17 November 24, 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/ District Central Co-operative
Banks
Dear Sir,
Withdrawal of Specified Banknotes : Cash requirements of pensioners and
Armed Forces Personnel
In view of the withdrawal of legal tender character of the Specified Banknotes (SBN)
demand for cash is expected from Government officials and pensioners after the
electronic payment of their salary/pension.
2. Banks are therefore advised to take appropriate steps in order to meet this likely
demand for cash by:
(i) Ensuring adequate cash availability for taking care of the requirements of pensioners
(ii) Ensuring adequate supply at the military outposts for the cash requirements of the
Armed Forces personnel.
Yours faithfully,
(P Vijaya Kumar)
Chief General Manager
मुद्रा प्रबंध �वभाग, क�द्र�य कायार्लय, 4थीं मंिज़ ल, अमर �बिल्डगं , सर पी.एम.रोड, पो.बा्.सं.1379, मुंबई – 400 001(भारत)
दरू भाष + 91-22-2266 1644 फैक् स : + 91-22-2266 2442 ई-मेल : helpdcm@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: + 91-22-2266 1644 Fax : + 91 -22-2266 2442 E-mail : helpdcm@rbi.org.in
�हदं � आसान है, इसका प्रयोग प्रयोग बढ़ाइय।�