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Demonetization: Inflow of new currency may take a hit, here's why

The volume of new notes in circulation is likely to take a hit since the employees of a printing press have refused to work overtime citing health reasons, The Hindustan Times said in a report.

According to the report, the employees of Salboni currency printing press in West Bengal have refused to work overtime citing back pain, physical and mental stress, and disturbed sleep.

The employees at Salboni press have been working 12- instead of nine-hour shifts for the last 15 days to ensure adequate cash flow into the system. Switching back to regular nine-hour shifts would decrease the number of notes printed daily by 6 million, the report said.

As the 50-day December 30 deadline remains only a day away, the people are expecting and hoping that the daily withdrawal limit is eased or done away with completely. A recent report suggested that the daily withdrawal limit from ATMs could be eased to Rs 4000 a day from the current Rs 2,000/ day.

However, now this development puts a question mark on whether there will be any changes post the 50-day pain that Prime Minister Narendra Modi talked about.

According to the aforementioned report, a member of the Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) told HT that the employees had agreed to do 12 hour shifts for two weeks which ended on December 27. They had refused to extend it.