RBI consolidates and withdraws outdated circulars on currency management, rationalising the regulatory framework for banks.
RBI Rationalises Currency Management Guidelines
In line with its ongoing regulatory rationalisation, the Reserve Bank of India (RBI) has consolidated and withdrawn several outdated circulars and guidelines relating to currency management, effective October 1, 2026. Issued under DCM (IFCD), the move aims to eliminate duplication and streamline compliance for banks.
The consolidation includes revocation of obsolete instructions on note remittance, soiled note handling, and branch-level reporting norms, which have been subsumed into existing Master Directions and operational handbooks. Banks are advised to refer only to the latest integrated framework for currency operations.
Legal and operations teams must audit existing SOPs to ensure all references to withdrawn circulars are removed. This initiative reflects RBI’s commitment to a leaner, more transparent regulatory regime, reducing compliance burden while maintaining operational efficiency.
