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RBI will install 1st Automated Banknote Processing Centre
The Reserve Bank of India is going to install its first Automated Banknote Processing Centre (ABPC) in the Jaipur Rajasthan. it will keep storage, receipt and dispatch of currency notes.
- As per the RBI document, Most citizens use cash mode for making payments. due to this, digital payments could not gain growth.
- otherwise, cash mode has been increased with rising in digital payments.
Automated Banknote Processing Centre
- it will have automated storage and receipt of new banknotes from printing presses and automated retrieval and dispatch of the notes in order to the recognised issue offices of currency chests.
- it will help in storing the daily average fresh note stock requirement and will also play a role in keeping almost days of soiled banknotes.
- it also will offer commensurate processing and removal capacities.
Capacity
- RBI estimates to store 1,883 million pieces during 2024-25 and 1,883 million pieces could be stored during 2024-25. also, during 2029-30 and 2039-40, RBI’s centre will store 2,950 million and 6,853 million pieces respectively.
Related Questions
Q.1 Where will the RBI’s Automated Banknote Processing Centre (ABPC) be installed?
Reserve Bank of India is going to install its first Automated Banknote Processing Centre (ABPC) in the Jaipur Rajasthan.
Q.2 What will the capacity of Automated Banknote Processing Centre be?
RBI estimates to store 1,883 million pieces during 2024-25 and 1,883 million pieces could be stored during 2024-25. also, during 2029-30 and 2039-40, RBI’s centre will store 2,950 million and 6,853 million pieces respectively.
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RBI will install 1st Automated Banknote Processing Centre