TIL Desk/Business/Mumbai-The Reserve Bank today nudged banks managing currency chests to engage district co-ordinators of state level bankers’ committee to ensure fair and even flow of money to farmers for their winter crop requirements in view of cash shortage post demonetisation.
To ensure adequate allocation of banknotes is made for rural branches, post offices and DCCBs, banks are advised to involve the district co-ordinators (Lead District Managers) functioning under State Level Bankers’ Committee (SLBC) in facilitating/planning distribution of currency from currency chests, RBI said in a notification.
RBI also said there is a perception that banks with currency chests are giving priority to their own branches to supply cash and asked them to quell the misinformation. “These banks with currency chests are, therefore, advised to make visible efforts to dispel the perception of unequal allocation among other banks and their own branches,” RBI said. Earlier, on November 22, RBI in an advisory to banks had asked them to make cash available to farmers for rabi crop season.
