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RBI directs banks to dispense more 100 rupees notes through ATMs

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.


December 2016 Current affairs
9 DEC
NEWS
8 DEC
NEWS
7 DEC
NEWS
6 DEC
NEWS
5 DEC
NEWS
3 DEC
NEWS

November 2016 Current affairs
30 NOV
NEWS
29 NOV
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28 NOV
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26 NOV
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25 NOV
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24 NOV
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October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
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25 AUG
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