Dailyhunt
RBI's ATM Rule Shocker: Goodbye to 500 Notes?

RBI's ATM Rule Shocker: Goodbye to 500 Notes?

Mirchi 9 11 months ago

So, the RBI said that by September 30, 2025, at least 75% of ATMs must give 100 or 200 notes. This number should increase to 90% by March 31, 2026.

This rule is to help people who need change for daily needs like travel, vegetables, or tea shops.

Viral Cab Ride: Is This Taxi or Luxury Hotel?

But some people are not happy with this rule. They say it does not solve the real problem - that 500 notes might still be used by the rich and corrupt to hide black money (illegal cash transactions). Big notes are easy to store and hide, so people use them to keep unaccounted money.

Also, if ATMs start giving more small notes, people who need to take out large amounts will have to do more transactions. This means longer waiting times, extra ATM charges, and more trouble - especially for poor or working people who depend on cash.

Viral Harassment Video: Influencer's Epic Reaction

Some also feel that instead of changing existing ATMs, the RBI should work on providing better banking services in villages. Many rural areas still don't have enough ATMs or banks.

Dailyhunt
Disclaimer: This content has not been generated, created or edited by Dailyhunt. Publisher: Mirchi 9