A week after, queues shorten outside banks

People with C2,000 notes rushing back to banks for smaller change; ATMs of 12 SBI branches were recalibrated

Published: 17th November 2016 01:58 AM  |   Last Updated: 17th November 2016 02:47 AM   |  A+A-

week

SME branch of SBI at Rourkela on Wednesday witnessed a sharp drop in rush of customers for withdrawal of money | Express

By Express News Service

ROURKELA: A week after the ban on high value notes, banks in Rourkela City on Wednesday witnessed a significant drop in the turn out for exchange of old currencies. However, those seeking cash for day to day expenditure continued to stand in queues for longer hours outside ATM counters. The ATM outlets were of partial help though as they are loaded with cash of Rs 100 denomination once in a day.
 In a new development, people with Rs 2,000 notes are rushing back to the banks to deposit them. The banking authorities are hopeful of restoration of normalcy in a week with arrival of new Rs 500 note from November 19.

Regional Manager of State Bank of India, BB Das said rush of visitors at SBI and other bank branches across the city on Wednesday came down by 60 per cent. Rural pockets have less number of bank branches and post offices, yet the pressure for exchange of notes has dropped to 50 per cent, said Das adding proxy exchange of banned notes has also came down significantly with the Central starting indelible ink to stop the practice.

From Wednesday ATMs of about 12 SBI branches were recalibrated and were dispensing both Rs 2,000 and Rs 100 denomination notes, said Das adding that the situation would improve in a few days with arrival of new Rs 500 notes.Significantly, about 46 SBI branches of SBI under Rourkela region comprising Rourkela city and Panposh and Bonai sub-divisions on Tuesday saw value of exchange of banned notes coming down to Rs 2.97 crore. On November 10 the exchange value stood at Rs 11.09 crore.

Meanwhile, a citizen Ranjan Mohapatra said he had to deposit Rs 2,000 notes in his account after failing to make small purchases.A bank official said, people are unnecessarily getting worried and hoarding Rs 100 notes and creating scarcity of of the currency. Meanwhile, with an aim to reduce pressure on bank staff, Uditnagar branch of SBI on Tuesday introduced a mobile banking unit to collect withdrawal cheques, exchange slips and banned notes from government offices.

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