Some bank branches ran out of cash and temporarily halted the exchange of withdrawn ₹2000 currency notes as they awaited loss of force from the currency casket on the alternate day of note exchange on Wednesday.
Further than anticipated demand during the first half in some of the branches led to the deficit of ₹500 and below denotation currency temporarily at some places, sources told Press Trust of India.
Guests had to stay for some time till loss came from the currency casket, sources added.
Still, elderly officers of colorful banks said there were no major complaints of currency deficit for exchange.
“We’re maintaining a nonstop force of ₹500, 200 and 100 appellations notes at all our all branches across Delhi circle to insure smooth exchange process of 2,000 rupee notes,” Canara Bank Chief General Manager (CGM) Bhavendra Kumar said.
Reserve Bank on May 19 blazoned pullout of ₹2,000 notes and permitted exchange of similar notes up to a limit of ₹20,000 at a time till September 30.
Unlike November 2016, when old 500 and 1000 rupee notes constituting some 86 per cent of the currency in rotation- were banned overnight, ₹2000 currency notes continue to be legal tender for now, and the exchange window is further than double of that handed in 2016.
While the Reserve Bank of India (RBI) has not made the donation of a valid ID or stuffing of deposit forms obligatory, there were complaints from some places that banks were demanding guests to submit identity cards as evidence.
Reserve Bank Governor Shaktikanta Das on Wednesday said that RBI is covering the situation regularly with regard to the pullout of ₹2,000 currency notes and expressed confidence that the entire exercise will be completed in anon-disruptive manner.
He said that RBI has given four-month time for swapping as well as depositing the ₹2,000 currency notes to insure that there’s no difficulty faced by anyone.
