SBI chairperson Arundhati Bhattacharya: ATMs to be filled with Rs 100 notes.

SBI chairperson Arundhati Bhattacharya speaks about how the leading bank in the country is preparing to handle the rush.

How is SBI planning to distribute the new Rs 2,000 currency?



At this point of time, we will be giving out more of 100-rupee notes. We have received some amount of notes of Rs 2,000 denomination. Wherever we have got them, they will be distributed. But notes of Rs 2,000 will be given at branches, but not ATMs. The SBI ATMs will be operational from Friday. We are doing the evacuation of ATMs and then we will have to put in fresh notes and reconfigure the machines.



When will the exchange of Rs 500 and Rs 1000 notes start?



People can deposit the money in their account immediately.There is no restriction on depositing amount. If they want to exchange, they can get up to Rs 4,000.



Do you have enough stock of Rs 2,000 notes?



We don't have enough stock of Rs 2,000 notes. But Rs 100 notes are enough. They were not much in demand till now. For example, when one asked for the dispensation of Rs 20,000, then the machine would give 39 notes of Rs 500 and five notes of Rs 100. Now we will have to put more notes of Rs 100 in the machines.



Has the SBI asked for enough number of currency notes?



Yes, we have asked for whatever is required, but I can't share the numbers. We have assessed the situation. We have enough for now. The situation should be normal in three to four days.

Will the banks work extra to clear the rush?

We are operating this Saturday and Sunday and for longer hours.We will assess the situation next week and also keep the banks open next weekend if needed.


Was SBI taken into confidence before the decision was announced?

No. These things are confidential.

Courtesy:- Times of India.