Mumbai, Nov 15 (KNN) In a move which would help MSMEs pay wages to the labourers, the Reserve Bank of India (RBI) has allowed the current account holders are allowed to withdraw up to Rs 50000 in a week.

However, RBI has clarified that this would be applicable to Current Accounts which are operational for last three months or more and such tenders will be disbursed predominantly in Rs 2000 denomination only.

Further, RBI has also said that banks may deploy their Micro ATMs (Bala Mitras, etc) near village Panchayat Offices, Police Stations/ Police and military Outposts, Government Departments, offices of Public Sector Units, Petrol Pumps and other similar secure locations. As it may entail larger volume of cash requirements, Banks may enhance the limits of the micro ATMs to at least Rs 50,000 and allow frequent replenishment of cash to them.

Banks may consider using mobile vans for providing exchange / deposit/ withdrawal facility to people residing in remote/ unbanked areas, RBI has said.

Banks should, in a camp mode, open accounts for Tea/coffee and other plantation workers, employees of Sugar cooperatives, dairy farms and such other worker groups with concentrated payment locations so that they may be better served in terms of deposit into accounts and withdrawal therefrom.

We reiterate that in order to cope with the increased work load banks may consider hiring retired employees for a short period, RBI has said.

For efficient monitoring, RBI has directed the banks to ensure that the customers use separate pay-in-slips for depositing specified bank notes and other legal tender bank notes.(If a depositor has a mixed bunch of SBN and legal tender notes, he has to segregate them and submit two separate Pay-in slips).

Banks have to put in place, within CBS, a mechanism to maintain a record of receipts of SBNs customer-wise and denomination wise whether for exchange or for deposit by way of a flag to facilitate subsequent verification. (KNN Bureau)