From speeding up currency printing process to airlifting new notes, RBI is doing everything to ease cash crunch situation
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With the ongoing cash crunch in the whole nation, the
Private Banks are facing a tough time with the cash problem and according to the industry data, the supply was sharply reduced. The four currency printing presses, two owned by RBI at
The focus now is on augmenting the supply of Rs 500 notes, the sources said.
"Supply to other banks will definitely improve. We are air-lifting 500-rupee notes. There will be some pressure initially but in the next few days it will ease," a government source told TOI.
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Banks will be using the money to make available funds in centres where they have large number of salary accounts.
Private Banks have also been making arrangements to distribute funds in companies which have a salary account with them through mobile devices.
"For several years now, bulk of salary withdrawals are happening through ATMs. To take care of salary demand, we have filled our ATMs with Rs 2,000 notes," an official with a public sector bank, told TOI.
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