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MP Kateel says ATMs to function normally in three days

Published On : 20 Nov 2016   |  Reported By : Canaranews Network


Mangaluru: Dakshin Kannada MP Nalin Kumar Kateel said that all the 830 ATMs across Dakshina Kannada are being re-calibrated to dispense currency in combination of Rs. 100 and new Rs. 500 denomination. Following a meeting with heads of nationalised, scheduled, private and cooperative banks Nalin that ATMs and banks across the district would start functioning normally in the next three days.

“This situation will get better as the new Rs. 500 notes will be in circulation in the next three days. Cooperative banks too will start dispensing cash. The problem faced by farmers in repaying the loans taken from cooperative banks using the invalid Rs. 500 and Rs. 1,000 notes is common across the country. This issue was raised in the Lok Sabha on Nov 18, Friday. I will write to the Finance Ministry and the RBI, Reserve Bank of India to permit cooperative banks to accept old Rs. 500 and Rs. 1,000 denomination notes for repayment of loans from farmers. This will avoid farmers from becoming defaulters,” he said.

MP Kateel asked private hospitals to accept Rs. 500 and Rs. 1,000 notes till November 24. “I request them as banks are accepting old notes from hospitals,” he said. 







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