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Currency crisis will be solved in 2 days
The present currency crisis arising out demonetisation of Rs 500 and Rs 1000 notes, will be solved to the maximum extent in another two days, said Collector Pravin Kumar who held a meeting with the bankers to assess the present situation and to arrive at a convergence of the banks to tide over the crisis, at the collectorate here on Monday.
Visakhapatnam: The present currency crisis arising out demonetisation of Rs 500 and Rs 1000 notes, will be solved to the maximum extent in another two days, said Collector Pravin Kumar who held a meeting with the bankers to assess the present situation and to arrive at a convergence of the banks to tide over the crisis, at the collectorate here on Monday.
Talking to reporters after the meeting, the Collector said the district has 737 bank branches and 1104 ATMS run by the 43 PSU and private banks. As on Sunday evening, the deposits were Rs 954 crore and disbursement was Rs 303 crore.
The banks are having Rs 2,000 notes but running short of Rs 100 and Rs 50 notes causing inconvenience to the people. The replenishment to the banks is 50 per cent Rs 2000 notes and the rest smaller denominations. People who are drawing Rs 100 notes are keeping them in their homes without circulating them, which is adding to the shortage of smaller notes,’’ he said.
He said only 60 per cent of the ATMs are working as the refilling was taking more than five hours. On a daily basis, Rs 2 lakh was being deposited in each ATM and they are catering to the needs of 200 people and getting exhausted in a few hours. Around 75 per cent of the transactions are being carried by three banks-Andhra Bank, State Bank of India and State Bank of Hyderabad.
The banks are in consultations with their head offices on a regular basis to get the replenishments. Andhra Bank is getting Rs 36 crore in another 24 hours and was told to share with seven other banks to meet the immediate cash shortage, he added.
The Collector announced that hospitals and PSU petrol bunks were asked to accept spiked notes till November 24 and warned that criminal action would be taken against those turning away the people. Special teams from civil supplies and District Medical and Health Office would be monitoring petrol bunks and hospitals till the deadline is over, the Collector said.
