There is a shortage of notes in some bank branches for exchange

Exchange of Rs 2,000 notes at some bank branches was temporarily halted on Wednesday due to unavailability of sufficient cash, leaving people waiting for some time. Sources associated with banks said that in some branches, the notes of lower denominations given in exchange for Rs 2,000 notes fell short. However, after some time people got relief after the notes came from the currency chest. Top officials of various banks, however, claimed that there have been no major complaints related to shortage of low-denomination notes in the branches. Along with this, there is no situation of crowd in the branches.

Canara Bank Chief General Manager Bhavendra Kumar said, “We are continuously delivering Rs 500, 200 and 100 notes to all our branches in Delhi circle to facilitate the exchange of Rs 2,000 notes.” After the Reserve Bank’s announcement on May 19 to withdraw Rs 2,000 notes, the process of depositing or exchanging these notes has started from Tuesday itself. On the first day, there were some complaints from customers about asking for ID proof and filling up forms to exchange or deposit notes. Although the Reserve Bank has made it clear that for this no one has to give any identity card nor fill any form.

Reserve Bank Governor Shaktikanta Das also said on Wednesday that the central bank is monitoring the process of withdrawing Rs 2,000 notes and it will be completed without any hindrance. RBI has given people time till September 30 to exchange or deposit Rs 2,000 notes. Along with this, this note has also been maintained as legal tender.

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