In the wake of unabated problems of demonetization being faced by people to get change and withdraw money at banks and ATMs, Apex Bank of India – RBI is planning to rope in with new series of Rs 20 and Rs 50 notes into the market.
The existing old notes of Rs 20 and Rs 50 denomination will remain and be used as usual, the RBI officials said. Despite pumping in liquid cash of Rs 100 and Rs 2,000 to some extent across the nation, the people are running helter-skelter to draw their money in vain as the banks and ATMs could not deliver to their expectations. Keeping this persisting problem in view coupled with the rhetoric of the Opposition and political parties, the Centre has decided to release the two new notes.
However, there was also a strong demand from public, employees, youth and students that the Centre instead could bring in Rs 200 note to address the problem pertaining to get the change besides releasing adequate quantities of Rs 100, Rs 50, Rs 20 and Rs 10 notes into the open market at the earliest. As it was becoming a problem to get the change for Rs 2,000 denomination in the open market and the people turning from pillar to post and fuming at the pathetic situation, the Centre is still grappling for supplying new notes.
According to information, the Centre has instructed the RBI to print and distribute the two kinds of notes in adequate numbers for small change to ease the panic situation among people. The RBI has informed that it has taken complete security measures and standards for the new notes to be released. (NSS)