The Government of Maharashtra on April 29, 2025, issued the Maharashtra Private Security Agencies (Private Security to Cash Transportation Activities) Rules, 2025.
These rules regulating the manner of providing security by the private security agencies to cash transportation activities.
The key provisions are as stated:
• Private Security for cash transportation and handling activities, etc.-
o No private security shall be provided by the private security agency for cash transportation activities unless he holds a license under the Act.
o For the purpose of providing private security for cash transportation activities, a contract may be entered into between.-
(a) a private security agency holding a license under the Act and the bank concerned ; or
(b) a cash handling agency and bank concerned.
Provided that in case the cash handling agency holds a licensee as a private security agency under the provisions of the Act, such cash handling agency may itself provide the private security to cash transportation activities in accordance with the provisions of these rules.
• Use of specially designed and fabricated cash van.
(1) No private security agency shall provide private security or armed security guards to a Bank or a cash handling agency for cash transportation activities, unless such activities are carried out in a secured cash van, which complies with the conditions for design and specification specified in the First Schedule, owned by it or owned by the Bank or cash handling agency, as the case may be.
(2) No taxi or hired vehicle shall be used for cash transportation activities by the private security agency:
Provided that, a vehicle which is on long term contract with the Bank or cash handling agency and the vehicle complies with the conditions for design and specification laid down under sub-rule (1) may be used by the private security agency;
Provided further that in case of remote location where Bank or cash handling agency is not serviced by a currency chest, any vehicle at such location may be used as an exception under prior intimation to the concerned local police authority.
• Measures for risk mitigation
(1) The private security agency shall ensure that the ATM under its security shall be fitted with one time electronic combination locks for reducing the instances of crew pilferage losses and ATM frauds.
(2) The cash for loading in to an ATM machine shall be collected from the Bank on previous hay or in the first half of the day so that operations can be concluded before the time stipulated in sub-rule (3).
(3) No cash loading of the ATMs or cash transportation activities shall be done-
(a) after 9 PM in urban areas;
(b) after 6 PM in rural areas;
(c) before 9 AM or after 4 PM in the districts notified by the Central Government or State Government as Left Wing Extremism (LWE) affected areas.
These rules shall come into force on the expiry of six months of their publication in the Official Gazette.
[Notification No. 0119/C.R-06/Spl.4]
