The Reserve Bank aims to create awareness among people about not writing anything on the currency notes and that they need to keep them clean, Deputy Governor K C Chakrabarty said on Saturday.
However, when asked if banks would stop accepting such notes from Januray 1, 2014 onwards, he said: “If anyone writes anything on the currency note at the front of a banker then he may deny to accept that note so that this mistake may not be repeated again by that person.”
“Our aim is to create awareness among the people that they should not write anything on the currency notes and need to keep the currency notes clean,” he told reporters in Varanasi.
He said that but the rules need to be strictly followed for cheques as per RBI guidelines if there was any kind of cutting or overwriting done on the cheque then it would be strictly considered invalid by the banks and would not be accepted from January 1 next year.
On a question regarding future of plastic currency notes, he said that first of all it would be started as a pilot project and its response would be seen in the market.
“This project will take nearly two to three years time and then after that we will decide to print the plastic currency notes at place of the paper currency notes,” he said.
Mr. Chakrabarty, who was here to inaugurate the Bank of Baroda Regional office's new building in Chandpur industrial area, said that the central bank was trying its best to control inflation.
Meanwhile, Chairman and Managing Director Bank of Baroda S S Mundra, who was also present at occasion, said that Varanasi’s Mishirpur village has been adopted by his bank.
Source : http://www.thehindu.com
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