RBI asks banks not to destroy CCTV recordings of demonetisation period

New currency notes of Rs 500 and Rs 2,000 denominations were also issued after withdrawal of SBNs. Huge crowds were witnessed at bank branches across the country for exchanging or depositing the demonetised currency.

The RBI on Tuesday asked banks to preserve the CCTV recordings of their branches and currency chests from November 8, 2016, to December 30, 2016, till further orders with a view to assisting the enforcement agencies to take actions against persons involved in illegal activities during the demonetisation period. The government had demonetised the then in circulation high-value currency notes of Rs 500 and Rs 1,000 on November 8, 2016, with an aim to check blackmoney and curb terror funding. As part of the exercise, the government gave the opportunity to the people to exchange junked currency notes (referred as Specified Bank Notes) or deposit them in their bank accounts. New currency notes of Rs 500 and Rs 2,000 denominations were also issued after withdrawal of SBNs. Huge crowds were witnessed at bank branches across the country for exchanging or depositing the demonetised currency.