“RBI has developed technologically perfected, expanded the system with more than 4000 currency chests and about the same number of coin vaults,” the letter added.
RBI has come under a lot of flak after the government decided to invalidate Rs500 and Rs1,000 bank notes, about 86% of the country’s currency in circulation. Its role in the decision making process and its preparedness have come under question with the central bank putting out at least 60 notifications in the first 50 days, some often reversing earlier decisions.
