On the auspicious occasion of Ganesh Chaturti, the Reserve Bank of India (RBI) had released new ₹200 and ₹50 notes on August 18, nine months after devaluing ₹500 and ₹1,000 notes.
The analysis was that the newly released notes would ease the ‘change problem’ in rural areas. Nevertheless, even two-and-half months after the release, the new notes are still not available in Mandya and Ramanagaram districts. Even bank officials are not sure when they will reach the public.
Number of branches
The number of branches of various nationalised and private banks in Mandya is 280.
A total of 172 branches are functioning in Ramanagaram district. So far, none of the branches have received the new notes, said bank officials.
The RBI started printing new ₹50 notes, the third currency note that had been introduced post-demonetisation, and ₹200 notes, the fourth one, in June, said bank officials at Mandya and Ramanagaram.
There is a great demand for lesser denomination notes in rural areas as villagers are finding it difficult to circulate the ₹2,000 note, a senior officer at State Bank of India in Mandya, who wished to remain anonymous, said.
Speaking to The Hindu here on Tuesday, he added that each and every bank has been expecting the issuance of new notes as this would ease the change problem.
“I have just seen the images of bright yellow colour (₹200) and fluorescent blue (₹50) notes on WhatsApp and other social media,” B.J. Somashekar, a resident of Gandhi Nagar, said.
Currency chest
The RBI supplies notes through ‘currency chests’ to banks. But, the new notes have not been supplied to Mandya, N.G. Prabhudev, manager, Lead Bank of Mandya (Vijaya Bank), told The Hindu.
According to the officer, the recalibration of ATM kiosks across the district, to issue ₹200 and ₹50 notes, has been completed.
While Mandya has ATM kiosks in 290 places, Ramanagaram has around 190 ATM kiosks.
