RBI has asked the lending banks that at least 40 per cent of bank notes should go to villages, in denomination of Rs 500 or below, reports Business Standard.
So far, the notes being supplied by banks in those areas “are not enough to meet their requirements, says the apex bank in its website.
The banks with chests should without any loss of time increase the supply of fresh notes to district cooperative banks, rural banks and all other banks.
ATMs, including WLAOs, may be issued Rs 500s and Rs 100s and among ATMs category, off-site ATMs should be allocated higher proportion of cash as against on site ATMs as they are more important in the last mile currency connectivity, the RBI says.
