RBI directs banks to ensure ATMs dispense ₹100 and ₹200 denomination banknotes on a regular basis.
RBI has issued direction to all Banks on the dispensation of ₹100 and ₹200 denomination banknotes through ATMs.
Rs. 100 and Rs. 200 notes serve specific purposes due to their value, convenience, and role in daily transactions. People need these denominations for convenience for small to medium transactions. Rs. 100 and Rs. 200 currency notes are ideal for everyday purchases like groceries, public transport, small retail, and dining at modest establishments. Rs. 100 and Rs. 200 notes provide flexibility for transactions that fall between smaller (Rs. 10, Rs. 20, Rs. 50) and larger Rs. 500 denominations, reducing the need for exact change.
Apart from above, In India, cash gifts in denominations like Rs. 100 or Rs. 200 are common during festivals, weddings, or small gestures, aligning with cultural practices.
In its direction dated 28.04.2025, the RBI has stated that as part of an endeavour towards enhancing public access to frequently used denominations of banknotes, it has been decided that all banks and White Label ATM Operators shall ensure that their ATMs dispense ₹100 and ₹200 denomination banknotes on a regular basis.
The following milestones have been prescribed:
(i) By September 30, 2025: 75% of all ATMs shall dispense either ₹100 or ₹200 denomination banknotes from at least one cassette.
(ii) By March 31, 2026: 90% of all ATMs shall dispense either ₹100 or ₹200 denomination banknotes from at least one cassette.
Empanelment of General Observers for ICSI Examinations December 2026 ICSI has invited interested members to enroll as General Observers for…
ITAT answers some important and inter-related issues relating to deduction u/s 80IA In a recent judgment, ITAT has dealt with…
Carry forward of loss can not be denied for belated return, it is only the set off in subsequent year…
Where sales are duly recorded in books and VAT returns, to treat it bogus sales, AO must bringing cogent adverse…
Expenses to celebrate Diwali with staff creates a goodwill and, therefore amounts to expenses incurred for the purpose of business…
Section 292BB of the Income Tax Act, 1961 does not preclude Assessee raising objection for non issuance of notice u/s…