RBI Governor Urjit Patel says that he will very soon ease the pain
Posted on: 28/Nov/2016 1:09:47 PM
Governor Urjit Patel said RBI is taking all necessary actions to ease the genuine pain of citizens who are honest and who have been hurt and hoped things will normalise soon.
Speaking for the first time after the decision to withdraw old Rs.500 and Rs.1,000 notes, Dr. Patel mentioned as follows:
Printing presses have started to rebalance the production of new notes towards Rs.100 and Rs.500 bills.
Both RBI and government have been getting the printing presses to work at capacity to get the new notes available to meet demand.
About 50,000 people were deployed to refit the ATMs. Currency is available and banks are working in a mission mode to lift currency and take them to their branches and ATMs
He urged people to start using cash substitutes like debit cards and digital wallets, saying it will make transactions cheaper and easier and in the long term and it will help India.
