RBI uses Currency Verification & Processing Machine for processing currency notes

Sep 11, 2017 15:33 IST

The Reserve Bank of India (RBI) on 10 September 2017 stated that it uses sophisticated Currency Verification & Processing (CVPS) Machines for checking numerical accuracy and genuineness of the currency notes including Specified Bank Notes of Rs 500 and Rs 1000 instead of counting machines.

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As per RBI, the Currency Verification & Processing (CVPS) machines are way superior to the note counting machines.

With a view to augment the processing capacity, RBI uses these machines in two shifts and has also been using other machines that are temporarily drawn from commercial banks after suitable modifications.

RBI is also exploring other options to augment processing capacity even further.

Background

RBI gave out the aforesaid information in its reply to a RTI application. The RTI, filed under RTI Act, 2005, was regarding the details about machines being used for counting the Rs 500 and Rs 1000 notes and numbers of personnel deployed for counting notes.

However, RBI denied sharing information on the total number of personnel deployed for counting of the old notes, citing that compilation of information would "disproportionately divert" its resources.

 

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