SHILLONG: The new Rs 500 notes are likely to be available in the State by this week, the Reserve Bank said in a meeting with the chief secretary and representatives from prominent banks on Tuesday.
Chief Secretary KS Kropha on Tuesday took stock of the fund available in banks and post offices in the presence of additional secretary and financial advisor to the Ministry of External Affairs Dr Sumeeth Jerath who has been deputed to the State to assess the situation and the officers of RBI, all major banks and the Postal Dept.
People here are finding it difficult to use the Rs 2,000 note, which are in adequate amount, as most banks and ATMs are running out of small denomination notes. Life will be so much easier with the issuance of the new Rs 500 notes.
Jerath said he had spoken to the regional director of RBI in Guwahati and “he has assured all possible support to the State. He further informed that adequate directions have been issued by the Ministry of Finance to ensure that availability of funds to the State is assured. Jerath will also visit Ri Bhoi, West Khasi Hills and West Jaintia Hills districts.
Most of the ATMs in the State have been calibrated to dispense Rs 2,000 notes and the work on calibration for Rs 500 notes will be complete shortly.
The postal department informed that besides the 68 sub-offices in the State, 438 branch offices will also distribute and exchange money and this is expected to further ease the pressure on the banks as well as help the public in rural areas.
SBI was advised to ensure adequate supply of lower denomination currencies and coins to the postal department.
‘Fake’ Rs 10 coins
The hullaballoo over fake Rs 10 coins was also a topic of discussion at Tuesday’s meeting. The CGM at RBI Shillong said the central office had already clarified that all Rs 10 coins are genuine and can be used for transaction.
