Money & Banking

Men in olive green to guard RBI’s moolah

G Naga Sridhar Hyderabad | Updated on January 11, 2018 Published on May 19, 2017

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The Army will be deployed at key offices of the central bank from next week



From next week, the Reserve Bank of India will be utilising the Army’s services to secure some its key offices across the country.

According to reliable sources, army commandos will be posted at each issue office of the RBI. Reportedly, a key task would be to ensure smooth completion of the shredding of the demonetised notes that the apex bank has in its chests.

The Army’s expertise is also likely to be used by the RBI for ‘sensitive matters and emergency situations’, when required.

Currently, special protection forces of the States are tasked with RBI security. There are about 100 personnel engaged in providing round-the-clock vigil. In addition, RBI uses its unarmed class IV staff for frisking of staff in cash functions.

Meanwhile, the proposed use of the Army’s services has raised eyebrows within RBI circles itself.

When contacted, a senior RBI executive said: “It is not exactly clear as to where the Army personnel will be deployed.

“The expectation is that they may be given key non-cash functions.”

Cash functions will require some knowledge of cash-handling procedures. The buzz among the staff union members is that the Army may be deployed in non-cash functions — such as frisking — as the apex bank is facing a shortage of class IV employees.

It remains to be seen what the Army’s actual role would be.

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Published on May 19, 2017
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