No instructions have been given to banks regarding filling or not filling 2,000 notes in Automated Teller Machines (ATMs) as lenders make their choice for loading cash vending machines, Parliament was informed on Monday.
According to the annual report of the Reserve Bank of India (RBI), net worth 500 more 2,000 denomination banknotes in circulation at the end of March 2017 and at the end of March 2022 9.512 lakh crore and 27.057 lakh crore, Finance Minister Nirmala Sitharaman said in a written reply in the Lok Sabha.
No instructions have been given not to fill the banks 2000 notes at ATMs Banks make their own assessment of the amount and denomination requirement for ATMs based on past usage, customer requirement, seasonal trends etc.
In response to another question, the Finance Minister said, the total amount of debt/liabilities of the Central Government is approx. 155.8 lakh crore (57.3 per cent of GDP) by March 31, 2023.
Of this, it said, estimated external debt valued at the current exchange rate 7.03 lakh crore (2.6 per cent of GDP).
“The share of external debt is about 4.5 per cent of the 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. Hence, the risk profile looks different .as safe and prudent,” she said.
He said the RBI, in consultation with the government, has recently announced a number of measures to diversify and expand sources of foreign currency funding to reduce exchange rate volatility and global spillovers.
This includes, “Fresh FCNR (B) and NRE deposits were exempted from the extant regulation on interest rates up to October 31, 2022 (i.e. interest rates not to exceed those offered by banks on comparable domestic rupee fixed deposits).” “
He said that the External Commercial Borrowings limit under the automatic route has been increased to USD 1.5 billion and the all-in-cost limit has been increased by 100 basis points in select cases till December 31, 2022.
In order to promote the growth of exports from India and to support the growing interest of the global business community in the Indian Rupee, he said, RBI has put in place an additional mechanism for invoicing, payment and settlement of exports/imports. On 11th July 2022 etc. Rs.
The text of this story is published from a wire agency feed without any modification. Only the headline has been changed.
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