Kerala is likely to get large replenishments of currency notes on Wednesday and Thursday from the Reserve Bank of India (RBI).
According to banking sources, the RBI will pump in Rs.400 crore worth of Rs.100 and Rs.50 notes on Wednesday.
This is expected to considerably ease the cash crunch caused by the scrapping of Rs.1,000 and Rs.500. The RBI will distribute the money across the State from its chests at major centres.
More heartening to the cash-starved Keralites: The RBI is also likely to put into circulation Rs.1,000 crore worth of freshly minted Rs.500 notes.
This is expected to arrive on Thursday. Banks had earlier been expecting to get the new Rs. 500 notes on Wednesday.
The replenishments, a large portion of which would go into the ATMs, would bring down people’s temper, shorten the lines at the banks and give a little push-up to the sagging retail sector that has been under stress for nearly a week.
