 Mumbai:
The Reserve Bank of India (RBI) has installed the
currency verification and processing system (CVPS) in
its Mumbai offices for faster and secure processing of
soiled currency notes.
Weeding
out soiled currency notes and replacing them with fresh
ones are part of the Clean Note Policy being followed
by the RBI over the past two years. So far, the RBI has
installed 42 CVPSs at its various issue offices to supplement
the manual processing of notes.
Each
CVPS is capable of processing 50,000-60,000 notes per
hour. It counts, examines the genuineness of notes, sorts
them into fit and unfit and destroys the unfit notes online.
“The system is also environment-friendly, as it does
not create pollution by burning of notes as was done in
the past,” the RBI said.
The
RBI had also taken measures to supply adequate quantities
of fresh notes and preventing excessive soilage of the
existing currency notes.
RBI
had announced Clean Note Policy in January 1999. Towards
the implementation of the policy, the RBI issued a public
interest directive to all banks instructing them not to
staple bank notes, to tender soiled notes to the apex
bank in unstapled condition, to use bands instead of staple
pins, to issue only clean notes to the public, to open
select currency chest branches all over the country on
Sundays to provide exchange facility, and to enable unrestricted
facility for exchange of soiled and mutilated notes to
the public.
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