JOIN USState Bank of India, the country’s largest lender, is gearing up to disburse salaries from Thursday, as it has received Rs 100 crore for Bengaluru Circle (Rs 100 denomination) re-issuable notes which are already in circulation.
SBI chief general manager (Bangalore Circle) Rajni Mishra told DH, “We have received adequate cash to take care of salaries and pension. Most of our branches in Karnataka will open one hour early at 9.30 am to avoid general rush.”
SBI has 2,000 ATMs in Bengaluru which are 100% recalibrated. “All our ATMs are loaded with Rs 2,000 notes. We are witnessing long queues. We feel proud that we are serving not only our existing customers but other bank customers too. Over 60% of those using our ATMs are non-SBI customers,” Rajni added.
For the convenience of pensioners, SBI has arranged to dispense Rs 10 coins in greater numbers for daily expenses.
SBI has received Rs 5 crore (Rs 500 notes) consignment only once. “We have requested the RBI to supply more Rs 500 notes. We are hoping, in next two-three days, to get more.”
SBI has engaged over 100 of its retired employees in Bangalore Circle, to deal with the unprecedented rush for exchange of invalid currency and ease pressure on the staff. The bank’s retired employees are visiting companies like Microsoft, Infosys and Hopcoms, among others, to disburse cash worth Rs 2 lakh with a ceiling of Rs 2,000 on each withdrawal.
“By and large, in Karnataka, people are tech-savvy. The situation is not as bad as in other states. People are willing to use digital banking like SBI Buddy - a digital wallet. We are promoting it in a huge way. We have organised a promotional event in Cubbon Park and received a huge response.”
SBI has 56 currency chests in Bengaluru, from where other banks from across the state can also avail cash.