Demonetisation: Sufficient currency available, RBI assures

With the ATMs running dry and huge rush of people outside banks, the Reserve Bank of India on Thursday clarified that there is sufficient supply of notes consequent upon increased production which started nearly two months ago.

The RBI released a notification where it requested that there is no need to panic or hoard currency notes.

Even after nine days of announcement to abolish high denomination currency by the Prime Minister Narendra Modi, there is a rush to deposit old currencies which resulted in chaos at bank branches and unending queues at ATMs.

Meanwhile, today, the government announced various measures including ease of restriction for cash withdrawal by farmers and wedding family.

On Monday, the RBI had said that for the recalibration of all ATMs/Cash, a task force will be set up to dispense the new design notes following introduction of Mahatma Gandhi (New) Series Banknotes including a new High Denomination (Rs 2000) in new designs.