Banks currently take up to 2 days to convert coins into cash. In this new scenario, RBI has brought a system where cash can be converted within 3 hours. HDFC Bank and ICICI Bank will start implementing this new system from October 4, allowing customers to convert coins into cash on the same day. This initiative by RBI aims to make the process of converting coins into cash faster and more efficient, benefiting both banks and customers. The move is expected to streamline the cash deposit process and improve overall banking operations.
RBI Shakes Things Up by Allowing Cash Deposit Within 3 Hours
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