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RBI takes steps to remove currency shortage

Posted on 14 August 2013

The Reserve Bank today came out with incentive scheme for banks to ensure distribution of notes and coins to the public, a step which will help in removing shortage of currency in circulation. Accordingly, the existing scheme of incentives and penalties has been reviewed taking into consideration the recent developments in the area of exchange and distribution of bank notes and coins to the public, RBI said in a statement.
The revised scheme endeavours to provide improved customer service to the common person both by extending higher incentives to the banks as also by expanding the activities covered, with major thrust on technological interventions in the issue and distribution of banknotes and coins, it said………………………………………..Full Article: Source


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