Bhopal: Queues disappear from banks

BHOPAL: Banking operations limped back to normalcy after 15 days after the government stopped over-the-counter exchange of demonetized Rs 500 and Rs1,000 currency notes from Friday.

However, it extended the use of only old Rs 500 notes for payment of utility bills, school fees and mobile-phone recharges up to a limit until December 15.

Government  also asked banks to accelerate a push towards cashless transactions in rural and semi-urban areas and resume normal lending as normalcy returns after the 8 November decision to scrap high-value notes. After this announcement, there were long queue of customers for the exchange the old currencies before banks and  post office.

As per the bankers, people are now having much new currencies for their transaction. Secondly, ATMs also are getting normal gradually. In case, they run out of cash, they are refilled within brief periods. Moreover, banks launched POS in the state capital to cater the need of people. First, SBI and Dena Bank introduced POS and people can withdraw the money after swapping credit and debit cards.

Dena Bank DGM Robin Patel said, “It is now normal working as there is no queue at any counter in the bank. For the last 15-day, it was very hectic working as we remained busy in currencies exchange.”

He said, “We also launched POS. other banks also introduced. The POS will cater the need of the people when they need cash. It is good technology. Other banks should also follow it.”

He said, “As far ATMs are concerned, now they are quite ok. Their functioning is normal. ATMs are refilled within short period, when they get out of cash. People too have new currencies so situation is now normal.”

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal