Bloodbath on the cards: RBI has hit cash logistics firms with capital norms

By end-March 2019, each CLC is supposed to achieve a net worth of a billion rupees, failing which there will be a big shakeout in the industry

“If a Danny Ocean were to pull a stunt out here, we would be in big trouble,” says Suneel Aiyer, CEO of Writers Safeguard. He and his rivals at the other four big cash logistics companies (CLC) — CMS Systems, Securevalue, SIS-Prosegur and Brinks Arya — cart almost 70 per cent of the daily average of Rs 150 billion in cash movement. But the danger implicit in the business is not the reason why Aiyer draws in his stomach a bit more as he refers to the Hollywood blockbuster Ocean’s series on heists. 

The industry, hitherto unregulated, will now face more