Urban credit cooperative banks are being asked to give undertakings that they would pay “handling charges” for the old currency notes.
The director of a noted urban cooperative bank in Hubballi said officials of the State Bank of India and Axis Bank asked them to give the undertaking. While one bank told them that they were “likely” to be asked to pay handling charges of Re. 1 for every Rs. 1,000 (in old currency), the other bank told it could be around Rs. 4 per Rs. 1,000.
“For banks which are receiving deposits of around Rs. 1 crore it will come to Rs. 10,000 to Rs. 40,000 per day,” he said.
