The Union Finance Ministry today reviewed the position regarding availability and distribution of all denomination of bank notes. Some of the highlights of the review and the decisions taken are as follows:
- Instructions have been given to the Banks and Post Offices to ensure proper distribution of all denomination notes. Banks have also been especially advised to ensure the availability and distribution of small denomination notes.
- Chief Secretaries of the States have been requested to identify the rural pockets, if any, where availability of cash has been a problem and provide all support to the Banks and Post Offices in order to ensure the last mile distribution of small denomination of notes is done through mobile banking vans and Banking Correspondents (BCs).
- It has been reported that certain business houses viz. Hospitals , Caterers , Tent houses etc. are not accepting Cheques/Demand Drafts and online payment transfer from customers. It is advised that in such cases customer can make a complaint to the concerned District Magistrates/District Administration for action against such establishments.
- Banks have been advised to make arrangements for separate queues for Senior citizens and Divyang persons.
- Separate queues will also be arranged for exchange of cash to cash and transactions against Bank accounts.
- The issuance of the new series of Rs.500/- notes has already commenced.
- Banks have been advised to increase the Business Correspondents limit of dispensing cash to Rs.2500/- for withdrawal from bank accounts.
- Banks have been advised to increase the exchange limit over the counter from the existing Rs.4000/- to Rs.4500/-.
- Banks have been advised to increase the Cash Withdrawal limit at ATMs from the existing Rs.2000/- to Rs.2500/- per day in the recalibrated ATMs, other ATMs will continue to dispense Rs.50/- and Rs.100/- notes until they are recalibrated.
- The weekly limit of Rs.20,000/- for withdrawal from Bank accounts has been increased to Rs.24,000/-. The limit of Rs.10,000/- per day has been removed.
