Central Banking

RBI installs cutting-edge currency machines

The Reserve Bank of India (RBI) governor Bimal Jalan on Wednesday inaugurated the currency verification and processing system (CVPS) in RBI's Mumbai office. The system is part of the central bank's drive to weed out currency notes and replace them with fresh ones under its 'clean note policy'.

The CVPS, 42 of which have been installed at various issue offices of the RBI to supplement the manual processing of notes, are being installed for faster and secured processing of soiled currency notes.