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…
In the wake of demonetisation of high
denomination notes, the RBI on Sunday asked banks to submit daily amounts of
cash withdrawn from over the counter as well as through ATMs in order to help
it arrive at accurate data on currency circulation.
“It has been decided that the banks
need to furnish daily data on cash withdrawals over the counter and through
automated teller machines. Accordingly, we request you to provide us data from
November 13 onwards. Please note that the daily reports should be mailed,”
the Reserve Bank of India said in a circular to commercial banks.
This data was earlier furnished
fortnightly by the banks.
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