In a major sigh of relief, residents of the city started collecting new Rs 500 notes from ATMs. The banks in the city have received Rs 3.5 crore value of Rs 500 notes.
According to a senior official of SBI main branch, SBI main branch received Rs 1.5 crore value of Rs 500 notes. The remaining banks with chest currencies facilities Central Bank of India, Bank of India, Canara Bank and Punjab National Bank have received Rs 500 new notes of value Rs 50 lakh only.
AGM SBI main branch Rajesh Verma said that the availability of Rs 500 note will be a welcome relief. Most of the ATMs have been prepared for dispensing new Rs 500 notes along with Rs 2000 and Rs 100 from today morning. This will reduce the long queues before ATMs on the simple logic that ATM will function for a longer period catering to more number of individuals.
Verma noted: “We have prepared all the ATMs in the city. As per the current configuration of the cassettes in the ATM a cassette containing Rs 100 notes can store till a value of Rs 4 lakh while a cassette containing new Rs 500 notes can store till a value of Rs 10 lakh while Rs 2000 notes can store till a value of Rs 40 lakh. The amount of Rs 500 notes can at the most last for over two days. It will be a great relief for the people”.
East Singhbhum lead district manager (lDM), Phalguni Roy said that all the banks with chest currency facilities have sent requisition for more numbers of Rs 500 notes to RBI Patna and are hopeful of receiving the next lot in the next few days to meet the crisis.
Meanwhile, people are excited to receive Rs 500 note. “ Though ATMs were
delivering Rs 2000 note but it was really difficult to get change. We desperately
needed Rs 100 or Rs 500. Since it is difficult to get Rs 100 from the ATMs I decided to come all the way to SBI ATM in Bistupur,” said a Ramesh Kumar, a resident of Adityapur.
Meanwhile, banks are adopting innovative ways to meet to the needs of the people facing crisis in the wake of demonitization.
“ We want to ease the rush for cash so steps are being taken every where.
We have started mobile cash van at rural parts of the district to cater to the need of farmers who can withdraw Rs 2000 cash by swiping cards. In the next few days we will be increasing the number of such mobile cash vans,” said Roy.
Another official of SBI informed that a drive has been started to allot Point Of Sale (POS) machines at smaller retail outlets and eateries for the convenience of the masses.