State Bank of India’s Kerala Circle on Wednesday morning received a currency replenishment of Rs. 406 crore from the Reserve Bank of India (RBI) to meet the heavy demand for cash in the wake of the demonetisation of Rs.1,000 and Rs.500 denomination currency notes.
The notes are mostly of Rs.100 denomination and also of Rs.50, Rs.20, and Rs.2,000.
More funds today
The cash will mostly be used to replenish the ATMs, a senior official told The Hindu . It is expected that nationalised banks and major private commercial banks would get a heavy replenishment of currencies from the RBI on Thursday.
Of the 1,434 SBI ATMs in the State, 1,375 were now live. Also, over 150 were calibrated to dispense the new Rs.2,000 notes.It would take at least a week more to calibrate all the SBI ATMs in the State. The official claimed that queues at the bank branches had been thinning each day. This reflected in its demonetisation-related business. While the first four days generated a business of Rs.5,000 crore, the last three days saw a business of close to Rs.1,000 crore.
The SBI also deployed two Cash@POS facility one each in Kollam and Thrivuananthapuram district. The two vehicles carrying POS (point-of-sale) swiping machines came handy for people for drawing money.
Cash to be used to replenish ATMs
Major banks in State likely to get replenishment of notes today
