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The Prime Minister Shri Narendra Modi reviewed the position regarding the supply and availability of currency notes yesterday late evening and took certain decisions to further activate the dispensing of cash through the networks of Banking Correspondents (BCs) Post Offices ATMs Banks and E-payment systems

News and Press Release - Dated:- 14-11-2016 - The Prime Minister Shri Narendra Modi reviewed the supply and availability of currency notes yesterday late evening (13.11.2016). The meeting went on till past midnight. It was attended among others by the Union Minister of Home,Shri Rajnath Singh, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley, Urban Development and I&B Minister, Shri M.Venkaiah Naidu, MoS (Independent Charge) for Coal & Power, Shri Piyush Goyal and .....

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e of the public. Banking Correspondents (BCs) Network : 1. Banks will increase the cash holding limit of BCs to at least ₹ 50,000/- each. Banks will also allow higher limits in appropriate cases. 2. Banks will replenish the cash with BCs multiple times in a day as per requirement of the BCs. BCs have wide presence in the rural areas. Totally there are 1.2 lakh BCs in the country. The above decisions will facilitate wider reach in the rural areas for exchange and withdrawal of cash from Ban .....

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calibration of ATMs, a Task Force is being set up under Deputy Governor, RBI consisting of representatives of Banks and Finance Ministry. This Task Force will draw up action plan and ensure implementation of this action plan for quick recalibration of the ATMs to enable them to dispense new Bank notes of ₹ 500/- and ₹ 2000/-. 5. In the meantime, Micro ATMs will be deployed to dispense cash against Debit/Credit cards up to the cash limits applicable for ATMs. The handheld Micro ATMs h .....

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sing the remaining ₹ 4000/- through ₹ 2000/- notes. 8. The ATMs are progressively getting recalibrated. As and when they are recalibrated, the cash limit of such ATMs will stand enhanced to ₹ 2500/- per withdrawal. This will enable dispensing of lower denomination currency notes for about ₹ 500/- per withdrawal. Other ATMs which are yet to be recalibrated, will continue to dispense ₹ 2000/- till they are recalibrated. 9. Business entities having Current Accounts whi .....

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