The Reserve Bank is planning a major overhaul of the currency management infrastructure in 4-5 years. The aim is to ensure adequate storage and handling capacity of currency to meet the future cash needs of the growing economy. For this, currency management centers, introduction of warehouse automation, installation of security and surveillance systems, an inventory management system and a centralized command center are being considered. According to a Reserve Bank document, RBI has invited expressions of interest for advice and project management services for modernization of currency management infrastructure. According to this, the timeline for the entire project has been fixed at 4-5 years.
Reserve Bank will improve the currency management framework
