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ATMs start dispensing the new Rs 2000 currency notes, rush on the reduce

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Jamshedpur : The queues got shorter in banks today as ATMs started dispensing the new Rs 2000 currency notes. More than a week after the demonetisation move by Prime Minister Narendra Modi, situation for exchanging cash in banks and post offices eased.

” The situation improved considerably today. The rush in banks has reduced. The initial fear and panic is over. For last one week there was a huge inflow of people in our bank branches , but not anymore,” said Kumud Jha, chief manager of State Bank of India, Bistupur branch.

He explained that with banks getting the new Rs 2,000 notes which started dispensing from the ATMs, the rush has reduced in the banks. ” Situation is expected to ease further. Most SBI bank ATMs dispensed Rs 2000 to all comers, ” he added.

“It has been decided that an amount up to Rs 2000 per day per person in cash can be dispensed against swiping of debit card from select petrol pumps where POS machines of SBI are already available,” an official said.

This new move is aimed at shortening the queues outside banks and ATMs where cash-strapped people have been consistently queueing up for hours to and withdraw and even exchange the now defunct notes of 500 and 1000.

As of today, the banks and post offices will only exchange defunct notes worth ? 2000, and the rest will be deposited in your account.

Ten days ago, on the evening of November 8, Prime Minister Narendra Modi demonetised the high-currency notes of 500 and 1000.

The government also announced some relief measures for farmers and on those families who were planning weddings.
Not just that, the government extended the date for toll fee exemption on National Highways till the mid-night of November 24 to ensure smooth flow of traffic.

Earlier the government had announced to keep the toll collection in abeyance till November 11 mid-night which was later extended to November 14 and then November 18.

The government’s earlier decision to accept the withdrawn notes at toll plazas till November 11 mid-night led to chaos in the absence of adequate change, causing massive traffic snarls.

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