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BRIEF-RBI says banks should advise currency chests to step up issue of new notes to rural branches
January 3, 2017 / 7:42 AM / in 10 months

BRIEF-RBI says banks should advise currency chests to step up issue of new notes to rural branches

Jan 3 (Reuters) - Reserve Bank of India:

* RBI - allocation of cash for rural areas

* RBI - chests should issue bank notes in denominations of INR 500 and below.

* RBI - banks should indent for coins, obtain supply from issue departments of RBI, if required, and ensure supply to public on priority basis

* RBI - banks should advise currency chests to step up issue of fresh notes to rural branches of RRBS, DCCBS and commercial banks, white label ATMs, post offices

* RBI - Indian banks should distribute at least 40 percent of banks notes supplied to rural areas

* RBI - existing stock of other denominations notes below 100 rupees should be issued liberally to rural areas Source text - (bit.ly/2hMrBXp)

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