Business Other News 08 Nov 2016 RBI chief sees no di ...

RBI chief sees no disruption with phasing out of high value banknotes

REUTERS
Published Nov 8, 2016, 10:18 pm IST
Updated Nov 8, 2016, 10:18 pm IST
Urjit Patel said that Production of new replacement notes have been ramped up over last few months to meet requirements
Reserve Bank of India Urjit Patel
 Reserve Bank of India Urjit Patel

Reserve Bank of India (RBI) said on Tuesday it would ensure there was no disruption caused by the phasing out of 500 and 1000 rupee notes after the government's shock move to remove the high value notes from circulation, as part of a crackdown on fake notes and black money.

Production of new replacement notes have been ramped up over last few months to meet requirements, RBI Governor Urjit Patel said at a press conference late on Tuesday.

 

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