Time to transport cash to banks cut from 21 to 6 days - News Summed Up

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Time to transport cash to banks cut from 21 to 6 days


With availability of cash improving in urban areas, the government isSenior government sources said the level of economic activity should climb back to normal levels by January 15. "RBI may transfer higher dividend or there could be a special dividend," the sources said. There is a probability of the government getting a "windfall" as a significant portion of the notes may not come back. This will reduce the liability of RBI and increase its ability to pay higher dividend. They said that the move to scrap the high value notes will lead to a cleaner and transparent economy.


Source: Times of India November 20, 2016 21:32 UTC



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