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New Delhi: Andhra Pradesh Chief Minister N Chandrababu Naidu, instructed the Centre to withdraw Rs 500 foreign money notes in a bid to clamp down on corruption.
Chandrababu Naidu who may be the president of Telugu Desam Party (TDP), a BJP best friend, made this request all the way through the inaugural speech TDP Mahanadu –the birthday party’s annual three-day mega conference, at Kadapa district.
Naidu all the way through his deal with within the conference instructed that govt must introduce virtual foreign money within the nation, and demonetize Rs 500 and Rs 2,000 notes.
Meanwhile, in a similar foreign money/denomination information, the Reserve Bank of India (RBI) not too long ago issued newest notification on Dispensation of Rs 100 and Rs 200 denomination banknotes via ATMs.
RBI mentioned, as a part of an endeavour in opposition to bettering public get right of entry to to steadily used denominations of banknotes, it’s been made up our minds that each one banks and White Label ATM Operators (WLAOs) shall make certain that their ATMs dispense Rs 100 and Rs 200 denomination banknotes frequently as consistent with following milestones:
1. By September 30, 2025: 75% of all ATMs shall dispense both Rs 100 or Rs 200 denomination banknotes from no less than one cassette.
2. By March 31, 2026: 90% of all ATMs shall dispense both Rs 100 or Rs 200 denomination banknotes from no less than one cassette.
The Reserve Bank had offered the Rs 200 denomination notes in 2017.
RBI mentioned that advent of this denomination is anticipated to facilitate change transactions for the typical guy and supply whole sequence of denomination for transactions on the decrease finish.
“These notes are available only through select RBI offices and banks as is normal when a new denomination of notes is introduced and the supply increases gradually. However, the production of these notes is being ramped up by the currency printing presses, and over time as more notes are printed, it will be distributed across the country through the banking channels and will be available for public in adequate quantity,” RBI had mentioned.
