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Only Rs. 2,000 notes everywhere

Published On : 01 Dec 2016   |  Reported By : Courtesy : The Hindu   |  Pic On: Photo credit : The Hindu


Mangaluru (The Hindu): Contrary to the assurance by Nalin Kumar Kateel, MP about 10 days ago that people in the city will get Rs. 100 and new Rs. 500 notes after three days, banks here are dispensing mainly Rs. 2,000 notes putting people in trouble.

The MP had given the assurance at a press conference on November 19.

A majority of the ATMs in the city are dispensing only Rs. 2,000 notes. This has been explicitly stated at the ATMs of a few banks. “We cannot do anything as we do not have Rs. 100 notes. The new Rs. 500 notes are yet to arrive,” said an executive of a bank that has a currency chest in Mangaluru.

Lead District Chief Manager Raghav Y. Yajamanya (of Syndicate Bank which is the lead bank in the district), told The Hindu that the bankers hope of getting new Rs. 500 notes in the next few days. “Bankers are somehow managing to meet the demand for money at the branches and at ATMs,” he said. “I had to buy for Rs. 500 at a pharmacy chain store in Jeppu to get change for Rs. 2,000,” said Ragini S.

Sanath Kumar, a resident of Nandigudde, said that the ATMs in the area were dispensing only Rs. 2,000 notes. If one wants to withdraw above Rs. 2,000 at ATMs, say Rs. 2,200 or the upper limit of Rs. 2,500 per day, the machine says that it does not have Rs. 100 notes. Mr. Kumar said that when he went to withdraw Rs. 10,000 from a private bank near Valencia through cheque he got the amount in Rs. 2,000 notes.

“It is only Rs. 2,000 notes everywhere now,” he said.

Nemu Kottary, a resident of Jeppu, said that he has been going to a nearby temple every day to get change for Rs. 2,000.

“I have been able to get change for Rs. 2,000 for the last three days,” Mr. Kottary said.







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