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The Reserve Bank of India (RBI) today said that banks must issue notes in denominations of Rs 500 and below in rural areas. This is to ensure that the bank notes being supplied are commensurate with the requirements of rural population. “Banks should advise their currency chests to step up issuance of fresh notes to rural branches of RRBs, DCCBs and commercial banks, White Label ATMs (WLAOs) in rural areas and post offices in rural areas on priority basis which are considered main rural channels of distribution,” said RBI.
It said that off-site ATMs should be allocated higher proportion of cash as against on-site ATMs as they are more important in last mile currency connectivity. The RBI further said that the existing stock of other denominations notes below Rs 100 should be issued liberally.
The Reserve Bank of India (RBI) today said that banks must issue notes in denominations of Rs 500 and below in rural areas. This is to ensure that the bank notes being supplied are commensurate with the requirements of rural population. “Banks should advise their currency chests to step up issuance of fresh notes to rural branches of RRBs, DCCBs and commercial banks, White Label ATMs (WLAOs) in rural areas and post offices in rural areas on priority basis which are considered main rural channels of distribution,” said RBI. 
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