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Wednesday, Mar 08, 2006


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Money & Banking - RBI & Other Central Banks


RBI directive on bank notes

Our Bureau

Mumbai, March 7

Reserve Bank of India has asked all government and semi-government offices and other institutions to desist from restrictive practices while accepting cash from the public.

The central bank, in a statement, said it has been receiving complaints from the public that certain private and public institutions have been resorting to measures such as forcing the customers to note down their names on the bank notes and listing the bank note numbers on the bills submitted for payment. RBI has termed them as avoidable harassment of the public and asked these institutions, offices and even individuals to desist from such practices while accepting cash from the customers.

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