3rd tranche of Rs 500 notes in, partial relief for customers

KOLKATA: The arrival of third tranche of 500-rupee notes has brought partial relief for customers. Many banks, both private and nationalized, received a sizeable part of their cash requisition in 500-rupee notes on Monday. There is a temporary respite and customers are happy that they won't have to return home empty-handed now.
Sources in the banking circle said that Rs 75 crore in 500rupee notes (15 lakh notes) was infused on Monday across the state.This was the third tranche of infusion of Rs 500 notes.In the first two tranches Rs 50 crore each was infused.
“Today , I have been able to withdraw four 500-rupee notes. I am so happy that I cannot express myself. Though I had a few Rs 2000 notes, they were of no use because you can't exchange them unless you make big purchase,“ said Samrat Sarkar, who trades in leather goods in Mott Lane. At an Indian Bank branch in central Kolkata, fresh cash was infused on Monday night and a large percentage of that was in Rs 500 notes. The bank officials are happy that they won't have to push 2000-rupee notes now. “Of course, there will be some Rs 2000 notes if someone is withdrawing a big amount, but we are trying to give quite a few 100and 500-rupee notes too. The real crisis lies in Rs 100 notes now, Rs 500 notes are gradually being made available,“ said an official.A huge percentage of the Rs 500 notes supplied to banks were used to re-fill ATMs.
Chief general manager of SBI, P Sengupta, said that for the time being the entire fleet of Rs 500 notes will be used for ATMs. “This time, we are not using the notes in branches,“ he added.