The Reserve Bank of India (RBI) has withdrawn outdated circulars on currency management as part of its regulatory rationalisation initiative. Banks must comply with the updated framework effective October 1, 2026.
Withdrawal of Outdated Currency Management Instructions
The Reserve Bank of India (RBI), in exercise of its authority under the Reserve Bank of India Act, 1934, has withdrawn several outdated circulars and guidelines related to currency management with effect from October 1, 2026. This action forms part of the RBI’s ongoing initiative to rationalise the regulatory framework and eliminate redundant or superseded instructions.
The consolidation exercise aims to streamline compliance for banks by removing obsolete directives and ensuring alignment with current operational and supervisory practices. The withdrawal includes circulars on currency chest operations, currency remittance, and related procedures that are no longer in force or have been subsumed by newer regulations.
Regulated entities are advised to refer to the latest master circulars and operational guidelines issued from time to time. Banks must review internal systems and update procedures accordingly to ensure adherence to the current regulatory framework.
