RBI hikes cash supply by 4 times
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NEW DELHI/MUMBAI/CHENNAI: The cash crunch at bank branches expected to Thursday government has moved to further scale printing of Rs 500 notes+ ,the new stock of the elusive currency.Banks across to the country continued to face cash shortages most of them ran out of money+ early in the morning on Wednesday.
The private banks tough time dealing with cash shortage also industry, data showed the supply was sharply reduced.sources four the currency printing presses, two owned by RBI. The government-owned ones at Nashik and Devas, supply of Rs 500 notes+ , the sources said.
The cash remained on Wednesday leading to ATMs The last couple of days had been to stock the state-run banks with cash government employees have accounts and salary is paid on the 1st or 2nd of the month. They are huge number of private companies with accounts with state-run to banks.
The Supply to the banks definitely improve.RBI increasing supply to cash nearly four times of what banks have been receiving in the last week.The bank branches and ATMs of large lenders is expected to improve substantially. Banks will be using the money centers have a large number of salary accounts.
The Private banks have been making arrangements funds in companies a salary account.To take salary demand illed our ATMs with Rs 2,000 notes.
The banks HDFC Bank signing a deal with Federation to Retail Traders.The cash point customers to swipe cards for cash.