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Government advises RBI, NABARD to ensure cash supply in DCCBs

In a move to benefit the farmers and rural population of the country, the Centre has advised the Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development (NABARD) to ensure adequate cash supply to the District Central Cooperative Banks (DCCBs).

Sakshi Chaturvedi

Sakshi ChaturvediBy Sakshi Chaturvedi

Published on 23 Nov 2016 7:54 AM GMT

Government advises RBI, NABARD to ensure cash supply in DCCBs
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New Delhi: In a move to benefit the farmers and rural population of the country, the Centre has advised the Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development (NABARD) to ensure adequate cash supply to the District Central Cooperative Banks (DCCBs).

The Economic Affairs secretary Shaktikanta Das on Wednesday said, “Government has made decisions to help farmers and to popularise digital transactions in the country.” The DEA Secretary further said, “NABARD has already sanctioned a credit limit of Rs 23,000 crore to DCCBs in the country for benefit of agricultural operations in current Rabi season.”

Briefing media about the developments in the demonetisation decision the DEA Secretary stated, “Some public sector banks and service providers have agreed to waive off service charge on use of debit cards up to December 31.”

What else he stated:

  • As many as 82,000 ATMs have been re-calibrated so far and it is only a matter of few days all the ATMs will be re-calibrated.
  • RBI has relaxed limits on e-wallets or PPIs.
  • The government has requested large number of people to migrate to digital transactions:
  • Railways has waived off service charge on online booking of tickets till December 31.
  • All Government organisations have been advised to use only digital payment method.
  • Car manufacturers have been asked to install RFID tag feature in new cars to facilitate cashless transactions at tolls.
  • New Rs 500 and Rs 2000 notes have been made available in 1.55 lakh post offices.
  • Public banks have said that there has been a surge in demand for usage of digital financial transactions

Sakshi Chaturvedi

Sakshi Chaturvedi

A journalist, presently working as a Sub-Editor at newstrack.com.

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