Two departments: Banks with physical branches must handle RMB cash deposit and withdrawal business

　　Zhongxin Finance, February 21. On February 21, the People's Bank of China and the China Banking and Insurance Regulatory Commission jointly held a symposium on RMB cash services for banking financial institutions.

The meeting required that all commercial banks, rural credit cooperatives and other institutions with physical outlets must handle RMB cash deposit and withdrawal business.

　　As of the end of 2021, my country's cash in circulation (M0) was 9.08 trillion yuan, a year-on-year increase of 7.7%, and continued to maintain a stable growth momentum. The net cash investment for the year was 651 billion yuan, and the demand for cash was still strong.

All banking financial institutions strive to improve the level of cash services, build a solid line of defense against counterfeit currency, and make overall plans for full-scale sorting and cash disinfection to ensure that the public can use "clean money", "reliable money" and "satisfied money", and the quality of cash services Continuous improvement.

　　The meeting pointed out that the current overall situation of RMB cash services is good, but there are also some issues worthy of attention.

The phenomenon of refusal to accept cash still occurs in society, and the willingness of individual banking institutions to handle cash business has declined or even stopped.

We must attach great importance to these new situations, new problems, and new signs, take them seriously, and properly resolve them.

　　The meeting demanded that banking financial institutions should fully understand the importance of doing a good job in RMB cash services, and continuously improve their cash service capabilities and levels.

Do a solid job of RMB cash deposit and withdrawal business, all commercial banks, rural credit cooperatives and other institutions with physical outlets must handle RMB cash deposit and withdrawal business.

Continuously strengthen the compliance management of cash services, continue to improve the cleanliness of cash in circulation, steadily promote the small-denomination RMB exchange work, and jointly build a long-term mechanism for rectifying and rejecting RMB cash, so as to promote RMB cash services to a new level.

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