The Royal Monetary Authority (RMA) has directed all banks across the country to immediately stop issuing cash until for notice. Such a directive has come following acute shortage of rupee notes in the country.
“The general public have been taking advantage and misusing the facility by drawing significant amount of Rrupee on a daily basis, for hoarding,” said a circular made by the RMA.
Following the directive, all banks have started issuing cheque instead of cash from Monday. Prior to this, a maximum cash of Nu 10,000 was made to facilitate business, studies and medical travel, reports Bhutan Broadcasting Corporation.
Currently the financial transactions from the banking channels are being made through drafts, demand drafts and telephonic transfers. While, other modes of monetary transaction still continue as usual, added the report.
