Demonetisation: Banks under pressure, post offices play major role in easing cash-starved crowd

Demonetisation: Banks under pressure, post offices play major role in easing cash-starved crowd

FPJ BureauUpdated: Thursday, May 30, 2019, 11:16 AM IST
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About Rs 400 crore deposited in post offices of the state

Ujjain: Since last nine days after demonetisation, banks across the country have been coping with heavy rush. Situation would have become far worse had post offices not joined the banks to share a heavy portion of population wanting to exchange scrapped Rs 500 and Rs 1000 notes.

Post offices are giving their remarkable contribution while working with banks shoulder to shoulder in easing the massive burden. According to information, a total of about Rs 400 crore has been deposited in the savings accounts of post offices of the state.

There are 43 head post offices, 980 sub post offices and more than 7000 block offices in the state with 43 ATMs of the post offices. The ATMs of the post offices are also being recalibrated across the state to provide ease to customers.

Despite all, on Thursday banks remained heavily crowded with huge queues. Most of the ATMs are yet to be recalibrated to dispense new currency notes.  However, some of the ATMs of State Bank of India are dispensing new currency notes of 2000, but change is the problem with this currency notes as new note of Rs 500 are still not in circulation. With new directives of RBI banks now exchange only Rs 2000 against old currency and mark of indelible ink will be necessary on index finger of the person who exchanges old currency on the basis of showing identity.

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