Local Goa News

Monday, November 21, 2016

Rs 500 notes by Sat

Panaji: The Reserve Bank of India (RBI) expects the liquidity crunch to ease over the next fortnight, once the new series of 500 denomination notes come into circulation. The notes had already been printed and had arrived at the RBI’s office at Belapur for distribution.

“Most banks are making their own arrangements for cash. The new 500 rupee notes may come into circulation by the weekend. They have arrived at the Belapur RBI office and will reach Goa in five to six days,” an RBI official said.
Some banks, which do not have their own currency chests in Goa and which are procuring cash from other zonal offices, have already introduced the 500 notes in Goa, but in miniscule amounts. tnn

TOI Goa News

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