RBI has cut staff holidays to count demonetized notes: Urjit Patel

New Delhi: The Reserve Bank has cut staff holidays to complete counting of currency notes which returned to the system post demonetization and has also ordered more machines to expedite the process, Governor Urjit Patel informed on Wednesday the parliamentary panel on finance.
The central bank chief said employees are working “round the clock” except on Sundays.
Replying to queries from members of the Parliamentary Standing Committee of Finance on demonetization and its fallout, Patel said counting of cancelled Rs. 500 and Rs. 1,000 currency notes goes on continuously for six days a week.
Appearing before the panel, chaired by senior Congress leader M. Veerappa Moily, the RBI chief informed the members that the central bank has curtailed holidays for its employees for counting of the junked notes.
Except Sundays, the counting is continuously going on “round the clock” six days a week, a member of the panel quoted Patel as saying.
According to members PTI spoke to, the central bank governor informed the panel that besides Saturdays, many other holidays have also been suspended in order to complete the mammoth task.

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