Contrary to reports that the new 500-rupee notes would be released by this week, the low-denomination bills remain elusive in Bengaluru.
A spokesperson for the State Bank of India's branch on Lavelle Road said that he had no idea when the notes would be released. On the possible reasons for delay in arrival of the notes, he said, "The printing of notes is an arduous process. Transporting them to Bengaluru also takes time. The notes are possibly on the way. I am hopeful that by the end of the week, ATMs will be recalibrated. Account holders would be relieved and crowds will reduce in banks."
T S Ramachandra, a spokesperson for Canara Bank, however, claimed that the market was "not affected much" by the lack of 500-rupee notes as "plenty of Rs 100 notes are available". The crowds have also reduced in the last few days, he added.
A senior official in the Finance Department said the higher-ups had indicated that they could receive the first consignment of the new 500-rupee notes on Monday.
In a telephonic conversation with DH, a staffer from the Reserve Bank of India (RBI) office in Mumbai speculated that the notes could arrive in Bengaluru by Saturday night or Sunday morning. The RBI's Bengaluru branch remained open till 5 pm on Saturday, which is usually a holiday, to keep the currency flowing to banks which were flooded with cash-strapped people.
![]( "A spokesperson for the State Bank of India's branch on Lavelle Road said that he had no idea when the notes would be released. pti file photo")
Contrary to reports that the new 500-rupee notes would be released by this week, the low-denomination bills remain elusive in Bengaluru.
A spokesperson for the State Bank of India’s branch on Lavelle Road said that he had no idea when the notes would be released. On the possible reasons for delay in arrival of the notes, he said, "The printing of notes is an arduous process. Transporting them to Bengaluru also takes time. The notes are possibly on the way. I am hopeful that by the end of the week, ATMs will be recalibrated. Account holders would be relieved and crowds will reduce in banks.”
T S Ramachandra, a spokesperson for Canara Bank, however, claimed that the market was "not affected much” by the lack of 500-rupee notes as "plenty of Rs 100 notes are available”. The crowds have also reduced in the last few days, he added.
A senior official in the Finance Department said the higher-ups had indicated that they could receive the first consignment of the new 500-rupee notes on Monday.
In a telephonic conversation with DH, a staffer from the Reserve Bank of India (RBI) office in Mumbai speculated that the notes could arrive in Bengaluru by Saturday night or Sunday morning. The RBI’s Bengaluru branch remained open till 5 pm on Saturday, which is usually a holiday, to keep the currency flowing to banks which were flooded with cash-strapped people.
A spokesperson for the State Bank of India's branch on Lavelle Road said that he had no idea when the notes would be released. On the possible reasons for delay in arrival of the notes, he said, "The printing of notes is an arduous process. Transporting them to Bengaluru also takes time. The notes are possibly on the way. I am hopeful that by the end of the week, ATMs will be recalibrated. Account holders would be relieved and crowds will reduce in banks."
T S Ramachandra, a spokesperson for Canara Bank, however, claimed that the market was "not affected much" by the lack of 500-rupee notes as "plenty of Rs 100 notes are available". The crowds have also reduced in the last few days, he added.
A senior official in the Finance Department said the higher-ups had indicated that they could receive the first consignment of the new 500-rupee notes on Monday.
In a telephonic conversation with DH, a staffer from the Reserve Bank of India (RBI) office in Mumbai speculated that the notes could arrive in Bengaluru by Saturday night or Sunday morning. The RBI's Bengaluru branch remained open till 5 pm on Saturday, which is usually a holiday, to keep the currency flowing to banks which were flooded with cash-strapped people.
Contrary to reports that the new 500-rupee notes would be released by this week, the low-denomination bills remain elusive in Bengaluru. A spokesperson for the State Bank of India’s branch on Lavelle Road said that he had no idea when the notes would be released. On the possible reasons for delay in arrival of the notes, he said, "The printing of notes is an arduous process. Transporting them to Bengaluru also takes time. The notes are possibly on the way. I am hopeful that by the end of the week, ATMs will be recalibrated. Account holders would be relieved and crowds will reduce in banks.”
T S Ramachandra, a spokesperson for Canara Bank, however, claimed that the market was "not affected much” by the lack of 500-rupee notes as "plenty of Rs 100 notes are available”. The crowds have also reduced in the last few days, he added.
A senior official in the Finance Department said the higher-ups had indicated that they could receive the first consignment of the new 500-rupee notes on Monday.
In a telephonic conversation with DH, a staffer from the Reserve Bank of India (RBI) office in Mumbai speculated that the notes could arrive in Bengaluru by Saturday night or Sunday morning. The RBI’s Bengaluru branch remained open till 5 pm on Saturday, which is usually a holiday, to keep the currency flowing to banks which were flooded with cash-strapped people.