 "Picture of Rs 2000 note.")
The Reserve Bank of India (RBI) on Sunday assured public that enough cash in small denomination is available and hoarding of the currency notes should not be done.
"The Reserve Bank assures members of the public that enough cash in small denominations is also available at the Reserve Bank and banks. 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 on its website.
In the absence of adequate Rs 500 notes and complete elimination of Rs 1,000 denomination as of now, people have started panic hoarding of Rs 100 notes.
The automated teller machines, which are spewing out only Rs 100 notes are running out of cash soon as people with multiple accounts were drawing the maximum Rs 2,000 allowed per account from multiple cards.
The notes are not easily coming back in the system as the general public are not parting with the denominations due to perceived uncertainties.
The notes are not easily coming back in the system as the general public are not parting with the denominations due to perceived uncertainties.
