RBI asks banks to maintain data on exchange of Rs 2000 notes on daily basis

Sakshi Education

Reserve Bank of India Governor, Shaktikanta Das has said the withdrawal of 2000 rupees bank notes is part of currency management.
The RBI Governor expected that most of 2000 bank notes will come back to the exchequer by 30th of September this year.
Mr. Das also clarified that RBI is withdrawing the 2000 rupees notes from circulation but they continue as legal tender. He said the RBI will be sensitive to difficulties faced by people regarding the exchange of bank notes.
The Reserve Bank of India has directed banks to maintain data on a daily basis on the amount of 2000 rupees notes exchanged and the amount that has been deposited into accounts.
The central Bank has added that banks will have to submit the information as and when called for.
RBI has said that banks must maintain adequate shaded waiting space and drinking water considering the summer season.
In the circular the RBI has mentioned that the facility of exchange of 2000 rupees banknotes across the counter shall be provided to the public, in the usual manner.

Download Sakshi Education Mobile APP