Rajnath Singh asks RBI to ensure enough cash in Sikkim

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Sikkim | Published: December 12, 2016 10:39:00 PM

Concerned over currency crisis in Sikkim following demonetisation, Union Home Minister Rajnath Singh today asked Reserve Bank of India to ensure that people of the north eastern state do not face hardships due to non-availability of notes.

Rajnath SinghRajnath Singh. (Reuters)

Concerned over currency crisis in Sikkim following demonetisation, Union Home Minister Rajnath Singh today asked Reserve Bank of India to ensure that people of the north eastern state do not face hardships due to non-availability of notes. The Home Minister made the request to RBI after Sikkim Chief Minister Pawan Kumar Chamling spoke to him and apprised him about the currency situation in the state, a Home Ministry spokesperson said. Singh has asked the central bank to make available adequate currency in different ATMs and banks so that people do not face hardships, he said.

Long queues continue in front of ATMs and banks in many parts of the country for withdrawal of new notes and depositing old Rs 500 and Rs 1,000 notes, ever since Prime Minister Narendra Modi announced the decision of demonetisation on November 8.

The Prime Minister, in a bid to assuage the troubles caused to people over the move, had asked them to give him 50 days to bring back normalcy.

In a new development over demonetisation, the Reserve Bank today directed banks to keep record of new bank notes in view of seizures by Income Tax Department and other law enforcement agencies of large quantities of high denomination notes.

It has been felt necessary to put in place an appropriate reporting system to keep track of issuance of these banknotes by the currency chests, RBI said in a statement.

In view of the above, the banks are advised to maintain, at the currency chest level and at link branches level, a daily record of issuances showing the serial numbers of Rs 500 and above received from RBI as remittance and issuance to their own branches, branches of other banks and post offices, branch wise and denomination wise on daily basis, it said.

The daily record of issuances should be signed by joint custodians and the branch manager at the end of the day, it said.

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