RBI urges people to be patient, says banks have enough cash for exchange

New Delhi, Nov 11: The Reserve bank of India (RBI) on Friday said that there ample of cash with the banks all over India for exchange demonetized notes of Rs 500 and Rs 1000.

“There is enough cash available with banks and all arrangements have been made to reach the currency notes all over the country,” RBI said in a statement. RBI informed that it might take a while for the banks to recalibrate their ATMs.

Several ATMs have been in a functional position since Friday morning to withdraw money upto Rs 2000. “As mentioned in RBI communications, it may take a while for the banks to recalibrate their ATMs,” RBI added.

Banks have started to exchange the old currency notes since Thursday.

In a statement, RBI narrated that “Once the ATMs are functional, members of public will be able to withdraw from ATMs up to a maximum of Rs 2,000 per card per day up to November 18, 2016; and after that withdraw up to Rs 4,000 per day per card.”

The Reserve Bank of India has appealed to the public to be patient and urged them to exchange their old notes at their convenience anytime before December 30, 2016.

Wefornews Bureau

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