RBI to force banks to dispense low-denomination notes

rupee-india-counting-notes
Certain rupee banknotes are in short supply

The Reserve Bank of India (RBI) is demanding banks set a proportion of their ATMs to dispense only lower denomination notes, as earlier efforts to boost supply proved unsuccessful.

Under the "pilot project", banks across India will be expected to set 10% of their ATMs to dispense only 100 rupee notes. The RBI said banks were failing to meet the "genuine requirement" of members of the public for smaller denominations.

In a November 2 letter to banks, RBI chief general manager P Vijaya Kumar

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