The newly introduced Rs. 500 notes, which will provide a major relief to the business sector that has already seen a drastic slump following demonetisation, is expected to reach Mandya by Saturday.
The scarcity of valid currency has hit production activities in the unorganised sectors. Daily-wagers are struggling to get employment, while vendors/shopkeepers are witnessing crash in business. Serpentine queues and chaos have been witnessed outside banks.
The new notes will be available from November 26, N.G. Prabhudev, manager, Lead Bank of Mandya (Vijaya Bank), told The Hindu here on Thursday.
284 branches
Various nationalised and private banks have established branches at 284 places and installed ATM kiosks in 290 places in all seven taluks. The average transaction through these banks/ATMs is at least Rs. 30 crore a day.
The Reserve Bank of India will supply Rs. 500 notes through currency chests to banks from November 26, another senior officer at Canara Bank, who wished to remain anonymous, said.
160 ATMs
According to sources in the Lead Bank, the recalibration of ATMs has also picked up pace.
Of the 290 ATM kiosks, 160 have been dispensing Rs. 2,000 currency notes since the last few days.
Meanwhile, as obtaining valid currency notes from banks is becoming an arduous task, Vijaya Bank has launched services of disbursing cash in public places.
The bank exchanged old notes worth several lakh rupees on the premises of the Agricultural Produce Marketing Committee (APMC) yard here on Thursday.
The bank will hold such drives in villages and hobli centres, bank officials said.
