Reserve Bank of India (RBI) flew in Rs 5,000 crore to Uttar Pradesh.
The Reserve Bank of India (RBI) on Saturday flew in Rs 5,000 crore in a heavily guarded cargo plane to Uttar Pradesh, which has been low on cash since high-value notes were banned over a month ago, an official said.
The state has seen a severe cash crunch since the Central government's move to demonetise high-value currency notes on November 8, in a bid to rid the nation of black money and counterfeit currency. There have been reports of protests in western Uttar Pradesh which have led to a law and order situation.
Soon after landing at the Chaudhary Charan Singh international airport, the money was sent to the regional RBI office.
The currency was sent to Lucknow for further distribution throughout the network of ATMs and banks in the state. A majority of the notes sent by the Reserve Bank are in the denominations of Rs 500 and Rs 2000. The RBI said that the cash was distributed evenly between the RBI offices in Kanpur and Lucknow.
(with inputs from IANS)