Excelsior Correspondent
JAMMU, Nov 12: Urging people not to rush for the exchange of withdrawn currency notes of Rs 500 and Rs 1000 as the scheme is availed till December 30, 2016 and even beyond, at specified RBI offices, the Reserve Bank of India today said that adequate stocks of other denomination notes have been kept ready in Currency Chests across the country.
Keeping in mind the need for other denomination notes, which are legal tender (including Rs 2000), adequate stocks of these notes are kept ready in the Currency Chests located at more than 4000 places across the country, said Alpana Killawala, Principal Advisor RBI, in a statement, issued here today.
Bank branches are linked to the Currency Chests to source their requirements and to sustain the demand while Printing Presses are printing the currency at full capacity so that adequate quantum of notes is available, the RBI Principal Advisor added.
Besides listing these measures, the RBI has also encouraged the public to switch over to alternative modes of payment, such as pre-paid cards, Rupay/Credit/Debit cards, mobile banking and internet banking. “All those for whom banking accounts under Jan Dhan Yojana have been opened and cards issued, are urged to put them to use. Such usage will alleviate the pressure on the physical currency and also enhance the experience of living in the digital world,” the RBI said.
Maintaining that all RBI offices and branches of banks have been working well beyond normal business hours, with additional counter opened to cater to the huge turnout of public for minimizing inconvenience to them, the RBI has reiterated that there was ample time for exchange of the specified bank notes for other denominations and people need not rush to exchange putting avoidable strain on the banking branch network.
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