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RBI reassures proper arrangement for cash exchange at banks: Top points

Reserve Bank Of India On Friday Reassured The People Of India That There Is Enough Cash Available At The Banks For Proper Exchange Of Defunct Currency With Valid Denominations. The Monetary Body Adviced People To Go To Banks For Currency Exchange At Their Own Convenience Rather Than Rushing In Panic.

News Nation Bureau | Edited By : Arshi Aggarwal | Updated on: 11 Nov 2016, 03:05:16 PM
Reserve Bank of India (Photo: PTI)

New Delhi:

Reserve Bank of India on Friday reassured the people of India that there is enough cash available at the banks for proper exchange of defunct  currency with valid denominations. The monetary body adviced people to go to banks for currency exchange at their own convenience rather than  rushing in panic. 

Here are the top highlights of the central bank’s statement: 

#After demonetisation of existing ₹500/1000 notes, RBI made arrangements to distribute notes in new denominations across the country: RBI

#There's enough cash available with banks and all arrangements have been made to reach currency notes all over the country: RBI

#Bank branches have already started exchanging notes since November 10, 2016: RBI

#Once the ATMs are functional, members of public will be able to withdraw from them upto a max of ₹ 2,000 per card/day up to Nov 18: RBI

#The facility for exchanging the withdrawn denominations of ₹ 500 and ₹ 1000 is available for nearly 50 days: RBI

#Reserve Bank appeals to members of public to be patient & urges them to exchange their old notes at their convenience, anytime before Dec 30

Also read: 

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First Published : 11 Nov 2016, 03:00:00 PM