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Shaktikanta Das says ATMs will start dispensing 2000 rupee notes

He said cash holding limit for banking has been hiked to ₹50,000
New Delhi: Joint Secretary (Budget) Ministry of Finance Shaktikanta Das addresses at the inaugural session of the 2nd Global Tax Summit organised by CII in New Delhi, on Dec 17, 2014. (Photo: Sunil Majumdar/IANS)

Economic Affairs Secretary Shaktikanta Das explained the media about the measures government is going to take on demonetisation of currencies.

“The focus of the government is to activate all channels whereby cash is dispensed to the public,” said Das, briefing the media.

He said cash holding limit for banking has been hiked to ₹50,000. “Banking correspondent will be now allowed to withdraw cash multiple times as opposed to only once a day earlier,” Das added.

Mentioning about the crisis in the rural areas due to low supply of cash, he announced, “Supply of cash to 1.3 lakh branch post offices will be enhanced.”  Das said government is taking necessary measures about setting up 2.5 lakh points in rural areas to dispense cash.

Currencies of the higher denomination will be dispensed from ATMs, he announced, “ATMs will from today or tomorrow start dispensing higher denomination currency of Rs 2,000.”

The Secretary announced that a large number of micro ATMs will be deployed across the country. He also added that higher cash withdrawal limit will be given for  recalibrated ATMs.“RBI has informed enough cash is available in the system, there is no need for panic; situation will ease in coming days.”

“RBI has informed enough cash is available in system, there is no need for panic; situation will ease in coming days,” he said reiterating the government’s request to stay patient.

 

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