(Image source from: Deccanchronicle.com)

RBI To Print Soon New Rs 100 Notes?:- According to a report in a leading news channel, the Reserve Bank of India (RBI) has unveiled its plans to print new, redesigned Rs 100 notes.

This move of the RBI has given a further push to its plans to ensure enough cash supply in country through the widely promulgated remonetization drive, a remedial step to make up for inconveniences caused during fifty days’ demonetization campaign.

“The existing Rs 100 currency notes will continue to be in the system and will be withdrawn gradually without any disruption,” a leading news paper quoted a central bank official as saying. It was also revealed that the dimensions and size of the new Rs 100 notes will not be touched. This implies that banks will not require to recalibrate ATMs outside their branches.

Currently, Rs 100 is dispensed through ATMs across the country. The report further elaborated that of the four cassettes, or boxes, in an ATM, only one is used for Rs 100 notes. The printing of new Rs 200 notes has already been started by the apex bank, as part of its larger remonetization exercise. The apex bank also plans to ensure more number of lower denomination notes in the banking system. At its select outlets and identified bank branches, these new Rs 200 notes have been started to supply by the apex bank.

It is expected that within few months of time the public at large will start getting these new Rs 200 notes. Reports had earlier claimed that as it does not want to take up the mammoth task of recalibrating over one lakh ATMs across the country, RBI may not supply new Rs 200 notes through ATMs.

India has a total of 1,04,500 ATMs, as per the the data provided by the National Payments Corporation of India (NPCI). Further statistics revealed that 59 per cent or 61,500 ATMs belong to the public sector banks, PSBs, and State Bank of India.

SUPRAJA