City bankers have attributed the reduced rush of customers at various branches on Monday to the public getting accustomed to the situation and the increased availability of currency notes of Rs.100 and less.
“People are less panicky, they are now familiar with the situation,” said a banker, pointing out that only bank branches in certain pockets such as West Kochi witnessed substantial rush during the day.
Bank branches in Mattancherry and Willingdon Island saw brisk currency exchange and deposit operations throughout the day. However, the rush was manageable and was expected to stabilise by Tuesday, said another bank official. The rush in these areas has been attributed to the presence of a large number of workers from other States, who are trying to send money home.
Deposits
Manager of a small bank in Aluva said the branch received deposits of around Rs.4 crore over the last two days.
Another bank manager said even small branches received deposits to the tune of Rs.1 crore per day.
The currency flow was quite stable and people were getting the money they wanted, said an official, who said that around 100 on-site ATMs in the heart of Kochi filled in the morning hours were empty by afternoon.
The ATMs were replenished with cash late afternoon.
“There is sufficient stock of Rs.100 notes,” said a bank official on the outskirts of Kochi. A total of Rs.8 lakh was received by the bank branch on Monday, of which around Rs.6 lakh was in Rs.100 denomination and the rest in denominations of Rs.10 and Rs.20. The situation should be better by Tuesday, said one of the bankers.
However, small businesses continued to be hit.
Vegetable sales
Business at the vegetable wholesale market picked up momentum on Monday after a lull of around three days. However, supplies are likely to be restricted on Tuesday as lorries have not left for vegetable markets such as Ottanchatram and Coimbatore because of a strike declared by the Vyapari Vyavasayi Ekopana Samiti. The strike has since been withdrawn.
A market stall owner said cool season vegetable supplies would not be restricted as Mettuppalayam supplies are already on their way.
