Stock Future Tips- Currency Available, Banks Working in Mission Mode to Take Notes to ATMs

New Delhi: In the first statement since 8^th  November, the day when demonetisation decision was announced by PM Narendra Modi, Reserve Bank of India (RBI) Governor Urjit Patel broke his silence saying that the Central Bank is monitoring the situation daily.

In an special conference to news agency PTI, he said that Reserve Bank of India is taking all needed actions to 'ease the genuine pain of citizens' who are honest and who have been hurt.
He also added that RBI and the government are getting printing press to work at capacity to make the new notes available to meet demand.

Now the Currency is available and banks are working in a mission mode to take them to branches and ATMs, expressed the RBI Governor.

Reserve Bank of India Governor Urjit Patel said that new Rs 500 and Rs 2,000 currencies have been designed to make them hard to counterfeit

He also urged people to start using cash substitutes like debit cards as it will make transactions cheaper and easier.

Giving details of the steps being taken by RBI, he said, "Both RBI and government have been getting the printing presses to work at capacity to get the new notes available to meet demand.

"The RBI is interacting with the banks every day. They are telling us that the situation is gradually easing. The queues in branches and ATMs are shorter and the markets are starting to function, and there are no reported shortages of daily items of consumption.


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