RBI may have slowed the supply of Rs 2000 notes, focusing on Rs 500 notes to infuse cash
The supply of Rs 2,000 notes from the Reserve Bank of India (RBI) to banks has dropped as of late, as indicated by a report in the Economic Times.
Brokers said this was planned to hold within proper limits the stream of high-esteem cash dissemination in the nation.
State Bank of India Chief Operating Officer Neeraj Vyas told the ET, “By and by we are accepting money notes from the Reserve Bank in the division of Rs 500 in high-esteem cash,” and that the Rs 2,000 notes are just coming in because of distribution
Every ATM has four tapes to hold money notes. In the event that one tape contains Rs 2,000 notes, the ATM has a limit of Rs 60 lakh. Be that as it may, if the tape is utilized to house Rs 500 notes, the machine’s ability drops to about Rs 25 lakh, which is by all accounts the case now.
An adequate stream of Rs 500 notes helps as they are advantageous and shoppers can get change effortlessly for littler money notes.
In any case, as far back as demonetisation, even as the RBI has been attempting to draw money into the economy at full speed, there keeps on outstanding a money lack.
As per RBI information, the money with the general population is still lower than the pre-demonetisation period. As on June, Rs 14.5 lakh crore is with the general population, instead of the prior sum which remained at Rs 17 lakh crore.
Rs 2,000 notes were the main notes to be presented post-demonetisation. Be that as it may, the ET report says the RBI is presently not happy with the quantity of notes in the economy.
The national bank will proceed to “print all the more low-esteem notes like Rs 500 or even Rs 200 which might be presented soon,” the report said
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