Sunday, 13 November 2016

RBI Statement - Don't hoard Cash.


http://www.rediff.com/business/report/dont-hoard-cash-asks-rbi/20161113.htm

‘The Reserve Bank urges that public need not be anxious; need not come over to banks repeatedly to draw and hoard; Cash is available when they need it,’ the central bank said in a statement

When I need cash, I need to go to bank...No where else we have 10,20,50 & 100 Rs Notes.
 RBI has this tactic of forcing us to read between the lines.

Cash is available, when they need it. ==> I doubt there's not enough cash & hence, we are made to stand in Queues, until enough notes are printed.

It's a tactic from ages. Stay unprepared, endup creating panic & asking to stay calm.

ATM were disbursing 1000, 500 & 100 (occasionally 50 Rs), but now they aren't doing it.

ATM's dispense 40 notes maximum, Now that 100 Rs is the maximum currency, 40 notes == 40 X 100 = 4000 is the max withdrawal amount.

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