This refers to the refusal of the Reserve Bank of India, Jaipur branch, to accept Rs. 92 crore brought in from five nationalised banks — to be deposited in the RBI — because it was brought after 5 pm. Rules are meant for the proper conduct of business between banks and the RBI. When the circumstances were beyond the control of those who brought the cash, how could the RBI insist on the rule? It is worth remembering that the RBI often asks banks to keep their offices open even when a State government declares a holiday.
T.R. Bhat,
Mangalore
