Penalties for Bank Branches and Currency Chests
The Reserve Bank of India has outlined a scheme of penalties for bank branches and currency chests that fail to provide adequate customer service to the public.
The penalties are categorized based on the denomination of notes:
Notes up to ₹50: [Penalty amount]
Notes of ₹100 and above: [Penalty amount]
Operational Guidelines
The competent authority will determine the nature of the irregularity and impose the penalty.
An appellate authority will be available to appeal against the penalty within one month from the date of debit.
Chat with the Master Circular: