News Karnataka
Friday, February 03 2023
Business

Don’t hoard cash, Reserve Bank of India tells people

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New Delhi: Saying there was no shortage of cash in small denominations, the RBI on Sunday urged people not to repeatedly withdraw money from banks for hoarding.
“The Reserve Bank assures members of the public that enough cash in small denominations is also available at the Reserve Bank and banks,” it said in an advisory.

“The Reserve Bank urges that public need not be anxious, need not come over to banks repeatedly to draw and hoard,” the statement said. “Cash is available when they need it.”

The advisory followed massive crowds outside all banks and ATMs across the country for a fourth straight day since the government de-monetized 500 and 1,000 rupee notes.

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