The Reserve Bank of India (RBI) head office in Mumbai (PUNIT PARANJPE/AFP/Getty Images)
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RBI Assures There’s Enough Money With Banks To Exchange Demonetised Notes
The Reserve Bank of India (RBI) said today (11 November) there was enough cash made available with banks all over the country for exchange of demonetised Rs 500 and Rs 1,000 notes, though it may “take a while for the banks to re-calibrate their ATMs”.
The RBI’s statement read:
There is enough cash available with banks and all arrangements have been made to reach the currency notes all over the country...As mentioned in RBI communications, it may take a while for the banks to recalibrate their ATMs.
The RBI said that consequent to the demonetization of existing Rs 500 and Rs 1,000 bank notes, arrangements have been made to distribute the notes in new Rs 2,000 and other denominations nationwide:
Once the ATMs are functional, members of public will be able to withdraw from ATMs up to a maximum of Rs 2,000 per card per day up to November 18, 2016; and after that withdraw up to Rs 4,000 per day per card...The Reserve Bank appeals to members of public to be patient and urges them to exchange their old notes at their convenience, any time before December 30, 2016.
(From IANS)