The Reserve Bank of India, Chennai, will open more counters and function for additional hours from Thursday to help customers exchange Rs.500 and Rs.1,000 currency notes.
Speaking to The Hindu, RBI’s Regional Director J. Sadakkadulla said customers could exchange currency notes of Rs. 500 and Rs. 2,000 denomination at the RBI’s special counters apart from bank branches and post offices.
Normally, the counters function till 2.30 p.m. But, the working hours may be extended to 4 p.m. to help people.
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Moreover, a helpdesk will be set up with helplines 044-25381390 and 044-25381392 to answer queries.
“Banks will start issuing new currency notes under the denomination of Rs. 2,000 from Thursday. However, we are yet to receive communication about the launch of new Rs.500 notes. We have sufficient stock of Rs.100 currency notes to provide to the banks. We will supplement it with lower denomination notes of Rs.50 and Rs.20,” said Mr.Sadakkadulla.
On the talks about Rs. 2,000 notes to have nano GPS chips embedded in them, he said those were unconfirmed reports.
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Meanwhile, post offices remained closed for counter transactions on Wednesday. Postal ATMs were also shut. Charles Lobo, Chief Postmaster General, Tamil Nadu circle, said this was done as a preparatory measure and to carry out internal accounting.
“Head post offices and sub post offices will begin accepting currency notes from Thursday. Customers can exchange for a value up to Rs. 4,000 a day as per RBI guidelines,” he said.
While post offices refrained from accepting and delivering money orders and cash on delivery parcels, it delivered other kinds of mails.
J.T. Venkateswarulu, postmaster general (mails and business development), said people will have to fill the requisition form and submit ID proof for currency exchange. Those with postal savings accounts may provide their account numbers.