PANAJI: New notes of Rs 500 that have been printed by the government following announcement of demonetisation are yet to be spotted in Goa. Lead bank, SBI, revealed that the new Rs 500 currency has not been distributed so far by the RBI and they have no idea as to when they will be supplied.
There are four currency chest branches in Goa and none have received the new Rs 500 notes, said the SBI source.
Enquiries with Goa office of the RBI drew a blank with a source saying that there is no official communication of the same from RBI’s head office in Mumbai.
The new Rs 500 notes are being printed and some are in circulation in Delhi and Mumbai, said the source.
So far, banks in Goa have been dispensing new Rs 2000 notes and notes of smaller denomination of Rs 100, Rs 20 and Rs 10. The shortage of Rs 500 notes is being felt acutely by consumers.
on November 8 2016, the government demonetised Rs 500 and Rs 1000 notes with the promise that new Rs 500 and Rs 2000 notes will be printed and circulated in lieu of the scrapped
currency.
However while Rs 2,000 notes are being freely given by banks and ATMs, the new Rs 500 notes are elusive. Of the Rs 17.6 lakh crore of notes in circulation, 86 per cent was of Rs 500 and Rs 1000.
The dispensing of Rs 2,000 notes is created a problem of change.