Monday, May 27, 2013

Banks need to come clean on notes

..........In its latest directive, the RBI bemoans that “certain branches of banks continue to follow old practices like stapling, writing number of note pieces in loose packets on watermark window of notes disfiguring the watermark impression and rendering it difficult for easy recognition.” It has also asked them to sort out the notes into bundles that are “issuable” and “non-issuable”. Only clean notes should be given to the public, it says..................

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