The RBI has withdrawn 268 outdated currency management circulars, consolidating current policy into Master Directions to improve regulatory clarity and reduce compliance burden.
RBI Streamlines Currency Management Framework
The Reserve Bank of India has withdrawn 268 outdated circulars and guidelines on currency management, effective immediately. These have been either consolidated into updated Master Directions or deemed obsolete due to technological and procedural advancements.
The move simplifies the regulatory landscape for banks, currency chests, and financial institutions. The withdrawal includes deprecated instructions on note issue, sorting procedures, and ATM operations. Institutions are advised to refer only to the current Master Directions for compliance.
This administrative reform supports ongoing digital transformation efforts. Legal teams should audit internal policies to ensure alignment with active directives and purge obsolete references. The exercise underscores the RBI’s commitment to regulatory rationalisation.