No directions have been given to banks for filling or not filling ₹2,000 notes in Automated Teller Machines (ATMs) as lenders make their very own selection for loading of money merchandising machines, Parliament was knowledgeable on Monday.
As per Annual Reports of the Reserve Bank of India (RBI), the entire worth of ₹500 and ₹2,000 denomination financial institution notes in circulation as at end-March 2017 and as at March-end 2022 was ₹9.512 lakh crore and ₹27.057 lakh crore, Finance Minister Nirmala Sitharaman mentioned in a written reply in Lok Sabha.
“No instructions have been given to banks for not filling ₹2,000 notes in ATMs. Banks make their own assessment of amount and denominational requirement for ATMs on the basis of past usage, consumer requirement, seasonal trend, etc,” she mentioned.
Replying to a different query, the finance minister mentioned, complete quantity of the central authorities debt/liabilities is estimated at about ₹155.8 lakh crore (57.3 per cent of GDP) as on March 31, 2023.
Out of this, she mentioned, exterior debt valued at present trade charge is estimated at ₹7.03 lakh crore (2.6 per cent of GDP).
“Share of external debt is only about 4.5 per cent of total debt/liabilities of the central government and less than 3 per cent of GDP. External debt is mostly financed by multilateral and bilateral agencies at concessional rates. Therefore, the risk profile stands out as safe and prudent,” she mentioned.
RBI in session with the federal government has introduced numerous measures not too long ago to diversify and increase the sources of foreign exchange funding to mitigate trade charge volatility and world spillovers, she mentioned.
It included, “fresh FCNR(B) and NRE deposits were exempted from the extant regulation on interest rates (i.e. interest rates shall not be higher than those offered by the banks on comparable domestic rupee term deposits) till October 31, 2022.”
The exterior business borrowing restrict below automated route has been raised to USD 1.5 billion and the all-in-cost ceiling has been raised by 100 foundation factors in choose instances as much as December 31, 2022, she mentioned.
In order to advertise the expansion of exports from India and to assist the growing curiosity of the worldwide buying and selling neighborhood within the Indian rupee, she mentioned, RBI has put in place a further association for invoicing, fee, and settlement of exports/imports within the rupee on July 11, 2022 and so on.
This story has been revealed from a wire company feed with out modifications to the textual content. Only the headline has been modified.
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