Cash relief comes in crores

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net_a_crowd_in_front_of_the_state_bank_of_indiaRs 107 crore worth Rs 2000 and Rs 100 notes arrive in city

A total of Rs 107 crores worth of Rs 2000 and Rs 100 denominations arrived today in Imphal to tide over the crisis of cash starved bank branches in the state following demonetization.

A hundred crores in Rs 2000 denomination arrived from Kolkota by a special flight at around 3.30 pm, while another 7 crores in hundred denominations arrived from Guwahati separately, according to SBI top officials.

The ATMs are slated to open from Saturday, as most of the ATMs remained closed today.

Officials said, out of the hundred crores in Rs 2000 denomination 80 crore is earmarked for SBI and 20 crore for UBI.

Bankers have assured that there will be no dearth of cash for exchange and other money consignments for remittance to customers will also arrive shortly.

As banks conducted business today, serpentine queues of customers were seen till late at the main branches of SBI and UBI.  According to sources, a total of approximately Rs 2 crore was exchanged in the 40 SBI bank branches in the state yesterday. However the deposits far eclipsed the exchange.

The SBI bank at Thangal Bazar alone recorded a deposit of Rs 20 crore yesterday, while the currency exchange at the bank was only Rs 37 lakhs. The total amount of deposits made today is still not available for SBI banks, but the figure is said to be astronomical.

It was also learnt that around Rs 50 crore was evacuated from the 128 ATMs in the Imphal area. The ATMs are being configured and deposits of hundred denominations and fifties are presently being made and carried out till late evening for transaction tomorrow.

The banking sector and finance department is currently on their toes to make the remittance as smooth as possible. The new notes and hundreds is also being prepared for transport to hill districts where is there is scarcity of notes for exchange

The banks accept all deposits and in any amount. The customers can deposit money every day to their respective banks and there is no upper ceiling. However, the Income-Tax (Investigation) department at Guwahati is monitoring the deposits.

A person can deposit any amount to the banks, but any anomaly in deposit which is above Rs 2.5 lakhs will be under the radar of the IT department. The anomaly will be investigated and the customer will have to answer for the source of money in his account.

Source: Imphal Free Press

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