PTI
MUMBAI
The Reserve Bank of India has asked banks to preserve CCTV recordings of operations at bank branches and currency chests to help law enforcement agencies in identifying people engaged in hoarding of new notes post demonetisation.
The Reserve Bank, in a notification issued on Tuesday, said banks should "preserve CCTV recordings of operations at bank branches and currency chests for the period from November 8 to December 30, 2016, until further instructions".
The central bank said the move will "facilitate coordinated and effective action by the enforcement agencies in dealing with matters relating to illegal accumulation of new currency notes".
The apex bank had earlier issued a notification on October 27, prior to demonetisation, asking the banks to cover the banking hall/area and counters under CCTV surveillance and record to facilitate identification of people abetting circulation of counterfeit notes.
The RBI also said it has issued elaborate instructions to all bank managements to do central data checking and its supervisors are carrying out similar exercise on various data points of banks.
On Monday, the Reserve Bank had directed banks to keep record of new bank notes in view of seizures by Income Tax Department and other law enforcement agencies of large quantities of high denomination notes.
It has been felt necessary to put in place an appropriate reporting system to keep track of issuance of these banknotes by the currency chests, RBI said in a statement.
