Traders opposes RBI's plan to close exchange counters for small notes and coins

Written By Unknown on Selasa, 18 Desember 2012 | 22.23

Mumbai: Confederation of All India Traders (CAIT), Maharashtra Unit has informed Reserve Bank of India that its move to close exchange counters for small notes and coins from new year will cause tremendous hardship to public in general and to traders and hoteliers in particular. Kirti Rana, president of CAIT said, "At present 90 to 95% of small notes and coins are being supplied from more than 100 counters of RBI through out India.

Commercial banks have not been very enthusiastic about this service. " CAIT said unless commercial banks agree to supply small notes and coins in adequate quantity and in a time bound manner, RBI must continue with its old practice.

CAIT Maharashtra also demands that it should be mandatory for commercial banks to supply small notes and coins in time bound manner, Rana added CAIT Maharashtra has sent a representation to Governor of RBI in the matter.


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