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Heavy rush for new currency notes in towns, villages
According to bank sources, about Rs 500 crore old notes of Rs 500 and Rs 1,000 were exchanged through the 593 bank branches of 40 banks in Chittoor district as on Monday while 300 ATMs which started functioning saw easing of the crowd in banks particularly in the temple city
​Tirupati: The heavy rush in the banks for the exchange of old Rs 500 and Rs 1,000 notes continued in the municipal towns, semi-urban areas and villages while it came down significantly in the pilgrim city Tirupati.
According to bank sources, about Rs 500 crore old notes of Rs 500 and Rs 1,000 were exchanged through the 593 bank branches of 40 banks in Chittoor district as on Monday while 300 ATMs which started functioning saw easing of the crowd in banks particularly in the temple city.
The SBI also pressed into service a mobile ATM which was stationed in SVRR Government Hospital premises here to meet the cash requirement of the patients coming from various places for treatment in SVIMS, BIRRD and SVRR Hospital bringing relief to scores of people.
The SBI also set up ATMs administration centre in its branch located in Sri Venkateswara University (SVU) campus to ensure cash flow in the ATMs.
According to District Lead Bank Manager (LDM) Ram Mohan Rao as many as 300 ATMs of the three banks including Indian Bank are allowing withdrawal of Rs 2,000 cash in many towns easing out the crowd situation in the banks. There are a total of 750 ATMs in the district.
He said for the benefit of the remote areas, the business correspondents of the select banks were also involved in the exchange of notes. Each business correspondent is allowed daily to carry cash Rs 50,000 each which they will exchange for the old notes at the door steps of the people in the interior villages, he explained.
He said the RBI allocated Rs 402 crore of Rs 2,000 and Rs 100 notes to the district which will be kept in 19 cash chests of Indian Bank, SBI, SBH and Andhra Bank to meet the cash requirements of the district and help restore normalcy in two or three days.
Meanwhile, the SBI to check repeated exchange of notes decided to apply indelible ink marks to the customers at its banks while many bankers also complained of many resorting to multiple exchange of currency.
The sources in the Postal department said that Rs 10 crore was exchanged while Rs 50 crore was deposited and Rs 4 crore was withdrawn from the 3 head post offices and sub-post offices in the district.
