RBI to announce facility for NRIs to exchange old notes
The Reserve Bank of India (RBI) on Saturday said that it will introduce a facility for exchange of old specified…
The Union government has assured the nation of smooth currency operation soon. Enough cash is available in the system and the Union government is doing its best for easy access of new currency notes to the public, Department of Economic Affairs (DEA) secretary Shaktikanta Das said on Monday.
“Enough cash is available in the system, no need for the public to panic, Das said, adding, the government is doing its best to improve the situation and the situation hour by hour”.
“ATMs will from today (Monday) or tomorrow (Tuesday) start dispensing higher denomination currency of Rs.2,000,” Das said.
Talking about new steps to cope with the situation, Das informed that “micro ATM network to be leveraged to create high accessibility of cash. Supply of cash to 1.3 lakh branch post offices will be enhanced”.
“The government’s focus is to activate all the channels through which cash is given to public,” he added.
“Situation relating to supply and availability of cash was reviewed by PM Modi late last night,” Das said.
Meanwhile, the Reserve Bank of India (RBI) has on Sunday assured people that enough cash is available in banks and people should not come to ATMs and banks repeatedly to hoard money.
The prime minister on November 8 night announced demonetisation of Rs.500 and Rs.1,000 currency notes.
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