Where is the new Rs. 500?

Even as a few banks here dispensed the new Rs. 500 note to “select” customers on Wednesday, the currency chest in Mysuru is yet to receive it for distribution across all banks.

Some banks had got a “small” quantity of the new note from Bengaluru, and it was distributed among “curious and regular customers” on Wednesday.

Most banks feel the new can ease the currency crisis to an extent as customers have been finding it difficult in getting change for the Rs. 2,000 note. Though sources in the banking sector said the new Rs. 500 is expected to be supplied here in a day or two from Bengaluru, it may take time for the people to get it from ATMs.

“The Rs. 500 notes will be dispensed only in banks in the beginning. The reason: to re-equip the ATMs to dispense the new note,” a senior bank officer said.

Some banks had apparently got the new notes from their currency chests in Bengaluru and it was distributed to their customers, it is learnt. Some locals claimed that they withdrew Rs. 500 from some ATMs here.

Mysuru Lead Bank manager K.N. Shivalingaiah told The Hindu that a couple of banks had brought the new notes from currency chest in Bengaluru. “I inquired when some people told us about banks dispensing the new note. It may take two to three days for the notes to be supplied to Mysuru currency chests for distribution across all banks,” he said. He clarified that the required quantity of new Rs. 500 notes had not been supplied to Mysuru.

Meanwhile, the last date for accepting the banned notes at petrol pumps, chemists/drugists, KSRTC and railway stations is November 24. Mysuru KSRTC divisional controller Mahesh said KSRTC would accept old notes for issuing tickets, passes and advance booking only till Thursday.

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Printable version | Apr 9, 2020 5:13:59 PM | https://www.thehindu.com/news/national/karnataka/Where-is-the-new-Rs.-500/article16723309.ece

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