Banking regulator Reserve Bank of India (RBI) has begun to restrict the flow of fresh currency notes to banks operating in Jammu and Kashmir which in now taking a toll on trade and businesses, highly placed banking executives said on Tuesday. Automated Teller Machines ( ATM) transactions have started getting affected as RBI has reduced the flow of high denomination currency notes to “border states such as J&K”, the executive said while requesting anonymity. He said cash flow from RBI to the state is down by 70 percent. “The state…
Read MoreRBI ‘Cuts’ cash flow to J&K, likely to affect businesses
