Pensioners and Army to Get Priority in Cash
[Ref: RBI/2016-17/154 DCM (Plg) No.1384/10.27.00/2016-17 dated 24th November 2016]
Sub: Withdrawal of Specified Banknotes: Cash requirements of pensioners and Armed Forces Personnel
In view of the withdrawal of legal tender character of the Specified Banknotes (SBN) demand for cash is expected from Government officials and pensioners after the electronic payment of their salary/pension.
2. Banks are therefore advised to take appropriate steps in order to meet this likely demand for cash by:
(i) Ensuring adequate cash availability for taking care of the requirements of pensioners
(ii) Ensuring adequate supply at the military outposts for the cash requirements of the Armed Forces personnel.