RBI urges public not to hoard cash

Rs 30,000 crore cash disbursed in 3 days: IBA

A scene outside at the Reserve Bank of India office in Bengaluru on on Friday. Photo: V. Sreenivasa Murthy

The Reserve Bank of India (RBI) has appealed to citizens not to go to branches repeatedly and also not to hoard cash.

"The Reserve Bank assures members of the public that enough cash in small denominations is also available at the Reserve Bank and banks," the central bank said in a statement on Sunday.

"The Reserve Bank urges that public need not be anxious; need not come over to banks repeatedly to draw and hoard; Cash is available when they need it," the statement added.

Separately, Indian Banks' Association (IBA) has issued a statement saying Rs. 30,000 crore of cash, including both lower denomination notes and Rs. 2000 currency notes, were disbursed in the last three days.

IBA also said ATMs are being recalibrate to handle the new series of Rs. 500 and Rs. 2000 denomination currency notes.