1. Demonetisation effect: Jharkhand government deploys choppers to transport cash from Patna RBI

Demonetisation effect: Jharkhand government deploys choppers to transport cash from Patna RBI

In the view to meet the huge demand of cash in the banks of Ranchi after demonetisation of Rs 500 and Rs 1,000 currency notes, Jharkhand government has deployed two helicopters to transport currency from Patna RBI.

By: | Updated: November 12, 2016 12:41 PM
Demonetisation effect: People stand in queues at cash counters to deposit and withdraw money inside a bank. (Reuters) Demonetisation effect: People stand in queues at cash counters to deposit and withdraw money inside a bank. (Reuters)

In the view to meet the huge demand of cash in the banks of Ranchi after demonetisation of Rs 500 and Rs 1,000 currency notes, Jharkhand government has deployed two helicopters to transport currency from Patna RBI. The state government took the decision after discussions with the central RBI and sent the helicopters to Patna on Friday.

According to Finance Secretary Amit Khare, who is overseeing the arrangements to ensure availability of appropriate cash in banks, the Jharkhand government got permission to deploy choppers for bringing currency notes from Reserve Bank of India in Patna to Ranchi. Concerning the massive demand of cash, the matter was discussed with the central RBI and other officials. Post the discussion, it has been decided to send two choppers to Patna, he told The Indian Express.

Making rapid action on the decision, two helicopters were left for Patna on Friday noon to bring the currency. Besides, adequate arrangements are also being made to ensure that the cash is transported to the banks, both in the city and far-off areas as soon as possible, Khare added.

Prime Minister Narendra Modi had announced a ban on old high-value currency notes on Tuesday as a step to curb corruption and black money in the Indian economy. Following which, the RBI Governor Urjit Patel and the secretary of the Department of Economic Affairs Shaktikanta Das introduced new currency notes of Rs 500 and Rs 2,000 denominations. With the opening of the banks and ATMs after the announcement, long queues of people have been seen at all the parts of the nation to withdraw cash.

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