Security agencies write to PM against RBI's circular on cash transportation

The private security agencies, involved in the business of transporting cash of banks to ATMs and other places, are up in arms against the recent Reserve Bank of India (RBI) circular, which specified norms for cash logistics business.

In a letter to Prime Minister Narendra Modi, the Central Association of Private Security Industry (CAPSI) said these norms are arbitrary. 

In a circular, RBI had tightened the norms for these companies. It had said that the minimum net worth of these companies should be Rs 1 billion, to be maintained at all times. The other norms basically related to vans. For instance,