Financial stability report of the reserve bank of india - Latest News Update, Information, Photos & Videos on Financial stability report of the reserve bank of india at Lokmat Times

By Venkatachari JagannathanChennai, May 19 The Reserve Bank of Indias (RBI) decision to gradually withdraw the Rs 2,000 denomination banknotes will not pose a problem as regards the ATMs, as they are not spewing out those notes for a long time, said a senior official of Financial Software and Systems (FSS).However, the RBI's decision is a blessing in disguise for the banks and ATM players as the number of transactions will go up which in turn is good for them.The city based FSS manages about 30,000 ATMs of different banks."The ATMs were not giving out Rs 2,000 denomination notes for the past one year. The machines have been configured accordingly. The RBI's decision will not pose any problem for players like us," V. Balasubramanian, CEO, CashTech, FSS, told .The RBI has asked the banks and others to reconfigure the ATMs/Cash Recyclers.Balasubramanian said there are about 2.5 lakh ATMs in India, adding that the need for high value Rs 2,000 notes is not there now as the lower denomination notes are available in adequate numbers.The one impact of the RBI decision is that the number of transactions may go up in the ATMs as the high value currency will go out of circulation and when it exceeds the number of free transactions, the banks charge a fee for additional withdrawals, he said.Ind have a penchant for cash transactions.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Financial Stability Report Of The Reserve Bank Of IndiaFOLLOW

Financial stability report of the reserve bank of india, Latest News

Bank officials assure ample supply of notes to the city Chhatrapati Sambhajinagar : In recent developments, the pink notes ... ...

Chhatrapati Sambhajinagar: Some vehicle owners were seen filling petrol of Rs 100 to Rs 200 and giving currency notes ... ...

Officials appeal traders to accept the notes; Fuel pumps see deposits of Rs 6 lakh worth of pink notes ... ...

Nashik (Maharshtra) [India], May 20 : Slamming the Centre over the Reserve Bank of India's decision to withdraw Rs ... ...

By Venkatachari Jagannathan Chennai, May 20 The decision of the Reserve Bank of India (RBI) to withdraw ... ...

Chennai, May 20 The decision of the Reserve Bank of India (RBI) to withdraw Rs 2,000 denomination banknotes ... ...

RBI announces phasing out of Rs 2000 notes : Preference given to fill fuel Chhatrapati Sambhajinagar: The Reserve Bank ... ...

By Venkatachari Jagannathan Chennai, May 19 The Reserve Bank of Indias (RBI) decision to gradually withdraw the Rs ... ...