The RBI on Tuesday requested banks to protect the CCTV recordings of their branches and foreign money chests from November 8, 2016, to December 30, 2016, until additional orders with a view to aiding the enforcement companies to take actions in opposition to individuals concerned in unlawful actions throughout the demonetisation period.
The authorities had demonetised the then in circulation high-value foreign money notes of Rs 500 and Rs 1,000 on November 8, 2016, with an goal to verify blackmoney and curb terror funding. As half of the train, the federal government gave the chance to the folks to trade junked foreign money notes (referred as Specified Bank Notes) or deposit them of their financial institution accounts.
New foreign money notes of Rs 500 and Rs 2,000 denominations have been additionally issued after withdrawal of SBNs. Huge crowds have been witnessed at financial institution branches throughout the nation for exchanging or depositing the demonetised foreign money.
On the premise of numerous inputs, the investigative companies additionally began probing issues relating to unlawful accumulation of new foreign money notes.
In order to facilitate such investigations, the RBI has requested the banks not to destroy the CCTV recordings of the period of demonetisation until additional orders.
“…Keeping in view the investigations pending with law enforcement agencies, proceedings pending at various courts, you are advised to preserve the CCTV recordings of operations at bank branches and currency chests for the period from November 08, 2016 to December 30, 2016 in a proper way, till further orders,” the RBI mentioned in a round to banks.
The current order is a continuation of an earlier advisory issued to the lenders in December 2016 to protect the CCTV footage of operations at financial institution branches and foreign money chests.
Of the Rs 15.41 lakh crore price Rs 500 and Rs 1,000 notes in circulation on November 8, 2016, when the word ban was introduced, notes price Rs 15.31 lakh crore have been returned.
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