Banks to work extra hours to handle currency rush

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A day after the ‘surgical strike’ by Prime Minister Narendra Modi on black money, the State Government alongwith the bankers swung into action to ensure that common people don’t face difficulty in legitimizing their money earned from lawful sources in days to come.    

Anticipating heavy rush in banks which may occur  on Thursday following the historic decision to ban Rs500 and Rs1000 notes, Chief Minister Raghubar Das directed all private and Government banks to remain open till 8 pm in the evening, from Thursday onwards.

The special meeting called by the Chief Minister was attended by the top officials of the State Government, DGP and heads of the various private and Government banks operating in Jharkhand.      

“All the banks in the State will remain open from 10 am to 8 pm during which proper security will be provided to them to avoid chaos during the day,” said the CM.

The banks have also been asked to conduct intensive awareness programme to educate the people in this regard, especially those residing in remote and rural areas, he added.

 “I must assure people that their money is safe and they should not be in a hurry to deposit their money as still there are 50 days time left with them,” said the CM. The banks have also been directed to open one extra deposit and withdrawal counter in each of the branches along with a help desk to entertain the queries asked by the people, he said.

The CM further said that the Reserve Bank of India (RBI) has also directed the banks to distribute cash equally in each of the branches so the people could withdraw cash as per their requirement.

Das also appealed people to avoid any kind of rumour as there is adequate currency in the banks. “Hospitals should also not harass people and they should deal with the people with a cool mind and guide them properly. The patients may be given two days extra time to clear their dues,” he said.

The CM further said that to avoid any confusion among the people, proper monitoring was being done by the RBI by setting up a model control room in Jharkhand. Separate control rooms in each of the districts have also been set up by the RBI, he said.

“Assistant General Manager or SBI Amit Sinha will be the Nodal Officer whose phone number is - 0651-2210517 and 9771348791,” said an official release of the State Government.

However, people will have to wait longer for new currency notes of Rs 500 and Rs 2000 denominations as most of the banks are expected to be insufficient with it on Thursday. Instead the banks have made sure the supply of lower value currencies and are gearing up to work extra hours for the convenience of the customers.

“We are getting prepared for the situation. There is no dearth of the currencies with lower denominations. Directions have been given to all the branches to exchange old Rs 500 and Rs 1000 notes with Rs 100 or Rs 50 notes. Initially there is short supply of the new notes being issued by the Reserve Bank of India (RBI) which is expected to normalise in couple of days,” said JR Daroch, Regional Manager of the Central Bank of India.

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