NT NETWORK
PANAJI
The travails of the common man in procuring lower denomination currency notes continued in Goa, as the new week began with most of the banks as well as the co-operative credit societies, transacted business without 100 rupee notes, which have come into demand after the demonetisation of Rs 500 and Rs 1,000 notes from the midnight of November 8.
The situation was no different in post offices around the state.
The staff members of three major banks, including a co-operative bank told this reporter that their banks have two thousand rupee currency notes for exchanging against the now-redundant high denomination notes however there are very few takers for them.
“We have exhausted all 100 rupees currency notes in our treasury, and are now waiting for fresh stock of these notes,” they added, stating that even five hundred rupee currency notes have failed to make appearance in their banks.
The schools around the state, which were closed for the Diwali vacation, are scheduled to re-open from November 15, with the department of education finding it unnecessary to extend the vacation, due to the financial situation resulting out of demonetisation. “The schools will reopen as per the schedule (November 15),” informed director of education, G P Bhat.
The day witnessed people approaching the banks and ATMs with the sole aim of obtaining 100 rupee currency notes, with lesser people depositing old Rs 500 and Rs 1,000 currency notes in the banks, as compared to last week.
Manager of a nationalised bank told this daily that the situation could improve if people start spending lower denomination notes in their possession. “It is quite clear now that far less number of 100 rupee currency notes are being spent by people, as compared to those disbursed by the banks since November 10,” he maintained, saying that the people have become very cautious about the prevailing financial situation around them, and are spending lower denomination currency extra- judiciously.
Incidentally, there was no confirmation from any banking source until Monday evening, as regards when the Reserve Bank of India would supply new Rs 500 and Rs 100 currency notes to the state.