The Reserve Bank said on Monday it will soon start issuing bank notes of Rs 500 denomination in packets, which may not be sequentially numbered, for easier transactions. The measure has been announced to increase operational efficiency, the RBI said in a statement. “With a view to enhancing operational efficiency and cost effectiveness in bank note printing at banknote presses, it has been decided to issue...fresh banknotes of Rs 500 denomination in packets which may not necessarily all be sequentially numbered,” it said. The apex bank said such a practice is prevalent in other countries.
Business Line
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