New series of Rs 500 notes to reach city today

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    Jamshedpur : The new series of Rs 500 notes will be reaching city from RBI Patna on Tuesday evening and it will take around 48 hours for the notes to find its way to the nearly 500 ATMs in the city.

    A bank official informed that they have received circular in official mail that the new series of Rs 500 notes have arrived at RBI Patna today from currency note press (at Nashik) and will be reaching Jamshedpur by Tuesday evening .

    All the banks have asked their private agencies (service providers) to arrange sufficient manpower for re-configuration of the cassettes at the ATMs to suit the new notes within 24 hours. After re-configuration the new Rs 500 notes will be replenished in the ATMs by Thursday noon.

    The official further said that after introduction of the new Rs 500 notes the problem of ATMs exhausting its cash within few hours can be controlled to a great extent.

    Currently, Rs 100 notes are available at the ATMs. With Rs 500 introduction and withdrawal from ATMs at Rs 2,500 per day (limit was increased by government yesterday) ATMs will dispense both Rs 500 and Rs 100 and serve people for a longer period reducing the anxiety and distress to a great degree,” added the official.

    Meanwhile, residents continued to be on the roads near those few ATMs which dispensed cash.

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