The decision of demonetisation was taken by the central government in the year 2016
In a major order by the Reserve Bank, all banks have been ordered to preserve CCTV recordings of all their branches and currency chests from November 8, 2016 to December 30, 2016. The Reserve Bank said that all have to preserve CCTV footage during this time period till further orders, to help them take action against persons involved in ineligible activities during demonetisation.
Notes of 500 and 1000 rupees were banned by the government on 8 November 2016 to prevent black money from across the country. The government had also given time to the people to deposit or exchange the locked notes in their bank accounts for some time. During this, there were long queues outside the right bank to deposit the closed notes in the bank.
After this new notes of 500 and 2000 came into existence by the government. RBI has issued a circular saying that for the investigation of all the investigating agencies and in view of the cases of hearing pending cases in the court, by maintaining the CCTV recording of all branches and currency chests from November 8, 2016 to December 30, 2016 till further orders. ordered to be kept.