Reserve Bank of India (RBI) asks Banks to Furnish Daily Data on Cash Withdrawals to maintain accuracy regarding Currency Circulation

Banks need to furnish daily data on cash withdrawals over the counter and through automated teller machines, says RBI

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Reserve Bank of India, Wikimedia Commons

New Delhi, Nov 14, 2016: In the wake of demonetization of high denomination notes, the RBI on Sunday asked banks to submit daily amounts of cash withdrawn from over the counter as well as through ATMs in order to help it arrive at accurate data on currency circulation.

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“It has been decided that the banks need to furnish daily data on cash withdrawals over the counter and through automated teller machines. Accordingly, we request you to provide us data from November 13 onwards. Please note that the daily reports should be mailed,” the Reserve Bank of India said in a circular to commercial banks.

This data was earlier furnished fortnightly by the banks. (IANS)

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