One week after demonetisation of old higher denomination notes of Rs. 500 and Rs. 1000 and the new Rs. 500 notes not yet released, people of all walks of life continue to face the problem of getting them exchanged for Rs. 100 notes and the new Rs. 2000 notes.
With Rs. 100 notes in short supply, many were seen going round shops and tapping even strangers of the street for smaller (Rs. 100) notes. For them it is a futile exercise.
For the third day the banks were open on a holiday and queues in front of them are not reducing in length. Shops and business establishments of all kinds continue to show less business and the Rs. 100 notes, which were plenty in number before demonetisation are strangely in short supply. Not many ATMs are open in full scale.
However, Collector Pravin Kumar brought some cheer to the people when he announced at a press conference that in a couple of days the supply of Rs.100 notes would be substantially increased and requested people to be patient and cooperate with the banks which are working overtime.
There is also a likelihood of new Rs. 500 notes reaching the district in two to three days, he said. This would solve the problem to a great extent, the Collector said.
After a meeting with representatives of SBI, Andhra Bank, SBH and private and cooperative banks, Mr. Pravin Kumar said the three main banks have stocks of notes to last another three days. In addition Andhra Bank would receive Rs. 36 crore by tomorrow and SBI and SBH too would receive cash in large amounts.
According to him as much as Rs. 954 crore have been received by the 733 branches and 1104 ATMs of 43 banks of all kinds in the last four days. A sum of Rs. 303 crore has been disbursed by the banks towards exchange for old notes and cash transfer.
Meanwhile, to provide relief to the people the banks were asked to replenish ATMs as soon as they are exhausted. Big banks should supply money to the smaller banks which do not have adequate supply of cash.
All the petrol bunks run by the oil companies and government and private hospitals would accept the old Rs. 500 and Rs. 1000 notes till November 24.
Also people could pay taxes, dues, fee, power and water bills and make other payments to the government organisations with old notes till Nov. 24, the Collector said.
