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Govt using helicopters, Indian Air force to reduce cash transportation

Govt using helicopters, Indian Air force to reduce cash transportation

The time taken from printing currency notes to transporting it to distribution centers has come downward from 21 days to just 6 days.

The government is aiming to improve it further over the next week, said The Times of India report.

All possible methods of transport including helicopters & Indian Air Force planes are moving the cash speedly.

With availability of cash improving in urban areas, the government is focusing on rural areas.

The report, quoting senior government sources, said the level of economic activity should rise back to normal levels by January 15.

Any gains flowed due to demonetisation will be used for recapitalisation of banks, building infrastructure and purchasing advanced weapons systems for the armed forces. The government is also expecting high returns from the RBI as significant section of the notes may not come back, reducing the liability of RBI.

The swelling of deposits with banks is also predicted to convert into better lending capacity for banks.

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