RBI directs banks to dispense more Rs 100 notes through ATMs

MUMBAI: The Reserve Bank of India ( RBI) has directed banks to ensure that at least 10% of their ATMs dispense `100 bank notes within the next 15 days, reports Joel Rebello from Mumbai.

“In keeping with the objectives of Clean Note Policy and to ensure that genuine requirement of members of public for Rs 100 denomination banknotes are met, the banks should increase dispensation of Rs 100 banknotes through ATMs which are widely used for distribution of banknotes for retail use,“ RBI said in a notification on its website.

Banks have hence been directed to configure 10% of their ATMs to exclusively dispense currency notes of Rs 100.