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RBI denies reports of introducing new denomination notes as of now

RBI at present has no idea of intoducing new denomination currencies, a top official of the central bank said in Kumbkonam, a place in Tamil Nadu on Sunday.


By   |  Updated On : March 27, 2017 08:06 AM
Representational Image of RBI (source: Getty)

Representational Image of RBI (source: Getty)

Kumbakonam :  

RBI at present has no idea of intoducing new denomination currencies, a top official of the central bank said in Kumbkonam, a place in Tamil Nadu on Sunday. 

“Presently RBI has no idea to introduce currencies of new denominations. The central banking institution wants to encourage cashless transactions, which are helpful to the people”, RBI Deputy Governor N S Vishwanathan said while speaking at a lecture on “credit culture and financial system.

Also read:  Why everyone not allowed to convert old currency note till March 31 ? RBI refuses to answer

He said NPAs (Non Performing Assets) are affecting the income and profit of banks. Banks cannot escape from the responsibility of controlling NPAs in their balance sheets, he said.

Banks are expected to base their lending decisions on a careful and prudent assessment of the financial position and repaying capacity of the borrower. Credit would be given to only the right people, he said.

Also read: RBI directs banks to remain open on all days till April 1 2017 to facilitate govt receipt and payment functions

Banks must have good system of credit culture, he added. 

First Published: Sunday, March 26, 2017 09:50 PM


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