Lok Sabha member K. Haribabu who visited various banks and held discussions with officials on Tuesday said the situation with regard to availability of cash will ease from January 1.
“From January 1 banks will not accept demonetised currency and deposits will have to be made in new notes. That will lead to more circulation easing problems considerably,” he said. In the meanwhile, more new currency will be printed and circulated too.
On the huge gap between the new currency released by the RBI and the deposits of demonetised notes made in banks country-wide, Mr. Haribabu said RBI would not pump the whole quantum of demonetised currency but would only print 30 to 40 per cent as the idea is to promote various cashless modes of transactions, he says.
Mr. Haribabu visited the Andhra Bank ATMs at Sitammadhara and held discussions with officials, including DGM B. Vijayalakshmi.
He also visited the SBI Regional Office and the Bank of India office near Jagadamba Junction.
After interacting with customers at Sitammadhara, he said 90 per cent of the customers were those having cards of other banks.
The demonetisation had caused problems but the situation would improve gradually by the end of the month, he said.
Around Rs.130 crore made available on Tuesday comprising all denominations would help considerably, he said.
BJP city president M. Nagendra was present.
