RBI: 66 CVPS machines for counting demonetized notes

     Written by : SMTV24x7 | Tue, Oct 17, 2017, 02:53 PM

RBI: 66 CVPS machines for counting demonetized notes

New Delhi, Oct 17: The Reserve Bank of India (RBI) has said on Monday that At least 66 Currency Verification and Processing (CVPS) machines are being used for counting junked Rs.500 and Rs. 1,000 notes that were deposited post demonetization.

A global tender has been floated for the procurement of new CVPS machines, the central bank said in reply to an RTI query on details of such machines being used for counting demonetized notes in the country.

"As on date, 59 CVPS are in operation in RBI for the purpose. In addition to this, seven CVPS available with commercial banks are also being used," it said in response to the RTI application.

It said seven CVPS machines were in the process of being leased, while seven others available with commercial banks were also being used.

In Reserve Bank offices, 59 CVPS machines are used and each machine is operated by a set of five persons under a supervisor who supervises a cluster of machines, the bank said.

The government had on November 8 last year banned the use of old Rs.500 and Rs.1,000 notes but allowed holders to deposit them with banks or use them with certain notified utilities.

"Subject to future corrections based on verification process when completed, the estimated value of specified bank notes received as on June 30, 2017, is Rs. 15.28 trillion," RBI had said in its annual report.