Bank unions ask RBI to issue lower-denomination currency notes on urgent basis
In a statement issued to Reserve Bank of India (RBI), Bank Employees Federation of India (BEFI) has asked the central bank to urgently issue lower-denomination notes.
Trending Photos
![Bank unions ask RBI to issue lower-denomination currency notes on urgent basis Bank unions ask RBI to issue lower-denomination currency notes on urgent basis](https://english.cdn.zeenews.com/sites/default/files/styles/zm_700x400/public/2016/12/15/554890-100.jpg?im=Resize=(400))
Hyderabad: In a statement issued to Reserve Bank of India (RBI), Bank Employees Federation of India (BEFI) has asked the central bank to urgently issue lower-denomination notes, as per a report in Times of India.
"Nearly 95 per cent cash supplied to the bank consists of `2,000 notes which is more of a store of value than a medium of exchange for transactions," said the BEFI in a statement.
The bank unions have asked RBI to disclose on how much currency is being received and disbursed to various banks across states on a periodic basis.
Advertisement
Live Tv
Advertisement