the goan I network
PANAJI
It has come as a huge relief to bankers in Goa that the Reserve Bank of India (RBI) has picked up old demonetised notes from their currency chests months after demonetisation had come to an end on December 31, 2016.
Several banks had faced a space crunch, as they still had to keep the old Rs 500 and Rs 1,000 notes in their currency chests months after demonetisation was
announced.
When demonetisation was announced in November last year, people started visiting branches in huge number to exchange their old Rs 500 and Rs 1,000 with new currency notes. As a result, bank-branches and currency chests in Goa had significant reserves of old notes waiting to get picked up by the RBI, which in turn had caused a shortage of space.
It was a huge logistical exercise for the RBI to pick up such notes not only from Goa, but from all parts of India as well. A source in State Bank of India (SBI) said that the RBI had picked up all the old notes few weeks back.
Similarly, sources in Canara Bank and Bank of Baroda also revealed that the old notes with them have been picked up by RBI sometime back.
Sources also admitted that the space crunch in branches and currency chests due to old notes was indeed a cause of concern for them. But that concern has been taken care of now that the RBI has picked the old notes from most banks.
In Goa, SBI, ICICI Bank, HDFC Bank, Bank of Baroda, Canara Bank and Bank of India have currency chests from where notes and coins are circulated to all bank branches in the state.
As sources in SBI, Canara Bank and Bank of Baroda have said that the old notes from their currency chests have been picked up by the RBI, it appears that this issue has been more or less taken care of.
PANAJI
It has come as a huge relief to bankers in Goa that the Reserve Bank of India (RBI) has picked up old demonetised notes from their currency chests months after demonetisation had come to an end on December 31, 2016.
Several banks had faced a space crunch, as they still had to keep the old Rs 500 and Rs 1,000 notes in their currency chests months after demonetisation was
announced.
When demonetisation was announced in November last year, people started visiting branches in huge number to exchange their old Rs 500 and Rs 1,000 with new currency notes. As a result, bank-branches and currency chests in Goa had significant reserves of old notes waiting to get picked up by the RBI, which in turn had caused a shortage of space.
It was a huge logistical exercise for the RBI to pick up such notes not only from Goa, but from all parts of India as well. A source in State Bank of India (SBI) said that the RBI had picked up all the old notes few weeks back.
Similarly, sources in Canara Bank and Bank of Baroda also revealed that the old notes with them have been picked up by RBI sometime back.
Sources also admitted that the space crunch in branches and currency chests due to old notes was indeed a cause of concern for them. But that concern has been taken care of now that the RBI has picked the old notes from most banks.
In Goa, SBI, ICICI Bank, HDFC Bank, Bank of Baroda, Canara Bank and Bank of India have currency chests from where notes and coins are circulated to all bank branches in the state.
As sources in SBI, Canara Bank and Bank of Baroda have said that the old notes from their currency chests have been picked up by the RBI, it appears that this issue has been more or less taken care of.
