1. In the Narendra Modi demonetisation drive, who is the real cash crunch hero? Find out here

In the Narendra Modi demonetisation drive, who is the real cash crunch hero? Find out here

At the time when the Government is busy justifying its move regarding demonetisation and the opposition has occupied itself with shouting slogans in the parliament and organising protests, Bharatiya Reserve Bank Note...

By: | New Delhi | Published: November 30, 2016 4:22 PM
demonetisation, narendra modi, rbi, rbi news, rbi latest news, BRBNMPL, BRBNMPL news, BRBNMPL latest news, BRBNMPL mysuru In his letter written to Prime Minister Narendra Modi, Ramadas said that the workforce of the bank is aiming towards maximising production with the available workforce.

At the time when the Government is busy justifying its move regarding demonetisation and the opposition has occupied itself with shouting slogans in the parliament and organising protests, Bharatiya Reserve Bank Note Mudran Pvt. Ltd has emerged as the real hero for the country. Most of us only know about Reserve Bank of India and have not heard about BRBNMPL. This is a subsidiary bank of RBI and is located in Mysuru. The bank is being hailed as a saviour because its workers have literally folded up their sleeves and got to work – printing the currency notes. The president of the subsidiary bank former president, SA Ramadas said that to solve the nationwide problem it has its workers working 24 hours a day, reports The Hindu.

In his letter written to Prime Minister Narendra Modi, Ramadas said that the workforce of the bank is aiming towards maximising production with the available workforce. Narendra Modi on the 8th of November has announced that the then existing Rs 500 and Rs 1,000 notes would no longer be considered legal tender and the people who have these notes would have to exchange the notes before 31st of December. Since the announcement, the country is in a complete state of chaos, dozens of people have lost their life; struggling tourists are performing on the streets for cash and a black market for the exchange of notes is already in place.

Although Ramadas had claimed that the facility is printing both Rs 2,000 and Rs 500 notes, it was later clarified that only Rs 2,000 notes are being printed by the subsidiary bank. The officials of BRBNML refused to discuss the issue due to security and confidentiality issue.

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