Question

In March 2019, RBI has allowed White Level ATM  Operators to buy wholesale cash, above a threshold of ___________pieces of any denomination. directly from the Reserve Bank and Currency Chests against full payment.

Options

• 5 Lakh

• 3 lakh

• 2 lakh

• 1 lakh

Answer 1

1 lakh

Explanation: On a review of operations of White Label ATMs  (WLAs) and representations received from stakeholders, as also to enhance the viability of  WLAs, RBI has decided to allow the WLA Operators to buy wholesale cash, above a threshold of 1 lakh pieces (and in multiples thereof) of any denomination,  directly from the Reserve Bank (Issue Offices) and  Currency Chests against full payment.