Rs 100, Rs 2000 notes likely to reach State today ; Thousands rush to banks to exchange notes
Source: The Sangai Express

Imphal, November 10 2016: Additional currency notes of Rs 100 and new currency notes of Rs 2000 may be brought to Imphal by air tomorrow.

Briefing media persons at the conference hall of Old Secretariat today, Chief Secretary O Nabakishore stated that banks were opened today as usual and people were allowed to deposit Rs 500 and Rs 1000 notes in addition to exchanging these notes with smaller denominations.

If additional number of Rs 100 notes and new Rs 2000 notes arrive here by tomorrow, people's woes caused by demonetisation of Rs 500 and Rs 1000 notes would be considerably reduced, he said.

Thousands rush to banks to exchange notes

State Government officials have communicated with RBI officials and they have been asked to send Rs 100 notes from Guwahati and Rs 2000 notes from Kolkata by air as soon as possible, conveyed the Chief Secretary.

As per the instructions of the Finance Ministry, Rs 500 and Rs 1000 notes would be accepted for paying power bills and purchase of pre-paid re-charge coupons.

All power and water bill payment counters would remain open till November 11 midnight.

People may exchange Rs 500 and Rs 1000 notes with currency notes of smaller denominations at the United Bank of India (UBI) as UBI has sufficient number of currency notes of smaller denominations even if they do not open their accounts at UBI, Nabakishore said.

On the other hand, a large number of people came to different bank branches and post offices today to deposit Rs 500 and Rs 10000 notes.

With the banks opened today, people were seen using currency notes of smaller denominations at Khwairamband Keithel and the scene was quite different from what was seen yesterday.

Still, vegetable vendors and retail outlets faced a lot of difficulties due to acute shortage of currency notes of smaller denominations.

People who came to exchange Rs 500 and Rs 1000 notes with currency notes of smaller denominations at banks were made to fill a prescribed form and submit it along with a valid identity document like Aadhaar card, voter card, ration card, PAN card or driving licence.

At UBI Paona Keithel branch, people were allowed to exchange Rs 500 and Rs 1000 notes with currency notes of smaller denominations for a value of Rs 2000 each.

Some people were seen bringing Rs 500 and Rs 1000 notes in big sacks at SBI Paona Bazar branch and UBI head-office of MG Avenue.

SBI Paona Keithel branch opened a separate counter for those people who brought Rs 500 and Rs 1000 notes in big sacks.

Separate counters were opened for people who brought money to the tune of Rs one crore, people who brought to the tune of lakhs and people who brought money below Rs one lakh.

There was a mad rush at all the bank branches and there were long queues.

The queue extended along the footpath in front of SBI Paona Keithel branch.

People were allowed to enter the bank office in groups of 50 each (25 males and 25 females).

However, many people could not exchange Rs 500 and 1000 notes with currency notes of smaller denominations as the office hours ended before their turns arrived.

Similar scenes were seen at other banks.

UBI MG Avenue branch remained open till late evening.

It is reported that currency notes of smaller denominations available at different bank branches of the State would run out after the next three days, if additional currency notes of smaller denominations are not sent by RBI in the next couple of days.

Banks which do not have RBI currency chests would face a more difficult situation.

The new Rs 500 and Rs 2000 notes have not arrived in the State till today.