New Delhi: In a big development post the demonetisation of two big value currency notes — Rs 500 & Rs 1000, the Finance Ministry on Sunday reviewed the position regarding the availability and distribution of all denominations of bank notes and took some important decisions. 
 
Here are some of the considerations made by the Finance Ministry:

* Banks advised to increase Cash Withdrawal limit at ATMs from Rs 2000/- to Rs 2500/- per day in the recalibrated ATMs.

* Banks advised to increase the Business Correspondents limit to Rs 2500/- for withdrawal from bank accounts.

* Banks have been advised to increase exchange limit over the counter from existing Rs 4000/- to  Rs  4500/-

* In 1st 4 days (from Nov 10-13, upto 5 pm) about Rs 3.0  lakh crores of old Rs 500/1000 bank notes have been deposited in banking system and about Rs 50,000 crores has been dispensed to customers by either withdrawal from their accounts or ATM’s or by exchange at the counter

* Weekly limit of Rs.20,000 for withdrawal from Bank accounts increased to Rs.24,000;. Limit of Rs.10,000 per day removed.

* Coordination being continuously done with RBI, Banks and Post Offices to make all denomination notes available at all locations.

* Banks have also been especially advised to ensure the availability and distribution of small denomination notes.

* Chief Secretarys of States have been requested to identify rural pockets, if any, where availability of cash has been problem and provide all support to Banks and Post Offices in order to ensure last mile distribution of small denomination of notes is done.

* Have received reports certain business houses (Hospitals, Caterers) aren’t accepting Cheques/DD and online payment transfer from customers. Advise customers to make complaint to concerned District Magistrates/District Administration for action against such establishments.

* Banks have been advised to make arrangements for separate queues for Senior citizens and Divyang  persons.

* Separate queues will also be arranged for exchange of cash to cash and transactions against Bank accounts.

* All Banks advised to arrange mobile banking vans to extent possible at major hosps for emergency banking transaction for patients. 

Also, Prime Minister Narendra Modi is expected to have a review meet on the current situation post demonetisation. As per reports, Deputy RBI Governor and Finance Minister will be attending the meet. 

First Published | 13 November 2016 9:03 PM
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