Decision of the Automatic Bank Note Processing Center, Reserve Bank to be set up in Jaipur

The Reserve Bank of India has decided to set up Automatic Bank Note Processing Center (ABPC) in Jaipur, amidst the increasing circulation of currency notes. This center will work for the receipt, storage and forwarding of banknotes.

The functioning of ABPC also involves the processing of received notes of currency chests and bank branches and destroying bad notes automatically. This information came from the Request for Proposal (RFP) withdrawn by the Reserve Bank for the appointment of a consultant for setting up ABPC in Jaipur.

The document states that cash is still an important mode of payment, with digital payments becoming increasingly popular. With digital payments, the number of banknotes is also increasing in trend. Globally, the way banknotes are increasing, a similar trend is being seen in India. During March 2001 to March 2019, the trend of banknotes by volume has increased threefold. It is likely to increase further in the coming years. The document states that in view of this, the need for an automated system for the receipt, storage, processing and disposal of banknotes is felt.