RBI directs banks to dispense more 100 rupees notes through ATMs

Posted on:03 Nov 2016 18:06:55

RBI directs banks to dispense more 100 rupees notes through ATMs
03 November 2016 Current Affairs: The Reserve Bank of India (RBI)had directed all the banks to dispense more 100 rupees notes through ATMs within the next 15 days.

The decision came after a review of steps taken by banks for installing ATMs dispensing lower denomination banknotes was conducted. After the review, it was found that very few banks had taken initiatives in setting up ATMs dispensing lower denomination notes including 100 rupees banknotes.

In keeping with the objectives of Clean Note Policy and to ensure that genuine requirement of members of public for 100 rupees denomination banknotes are met, the banks should increase dispensation of 100 rupees banknotes through ATMs which are widely used for distribution of banknotes for retail use.

Moreover, RBI also decided to conduct a pilot project wherein 10 percent of the ATMs in the country will be calibrated to dispense 100 rupees banknotes exclusively. 

For this purpose, banks are free to select the branches with the sample covering relatively large number of centres or states. Once it is completed, the banks will further share their feedback on the pilot project after a lapse of two months.


Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs July 2017

22 JULY
NEWS
21 JULY
NEWS
20 JULY
NEWS
19 JULY
NEWS

Current Affairs June 2017

30 JUNE
NEWS
29 JUNE
NEWS
28 JUNE
NEWS
27 JUNE
NEWS

Current Affairs May 2017

31 MAY
NEWS
30 MAY
NEWS
29 MAY
NEWS
27 MAY
NEWS