RBI asks banks to be cash-ready for pensioners, armed forces
RBI has asked banks to ensure cash supply for pensioners and armed forces in the wake of limited currencies in the market following cancellation of Rs 500 and Rs 1,000 notes.
The Reserve Bank said demand for cash from government officials and pensioners is expected after electronic payment of their salary or pension.
Banks are, therefore, advised to take appropriate steps in order to meet this likely demand for cash, RBI said.
It laso asked them for arrangements at military outposts for cash requirements of armed forces.
Source : economictimes
Similar Posts:
- Need recalibration (Software & Hardware changes) in all ATMs
- Non Functional ATMS to be normalized soon – Finance Ministry
- Limit on Cash Withdrawals from SB Accounts raised to 50, 000 per week – Reserve Bank
- Instructions on 28 Nov 2016 – RBI : Relaxation on withdrawal of cash from bank deposit accounts
- No Limit for Cash Withdrawal from ATMs from February 1 – RBI Circular