Lower denominations disappear from ATM centres

VISAKHAPATNAM: The woes of people continued on Thursday in the three north coastal districts of Srikakulam, Vizianagaram and Visakhapatnam due to absence of lower denominations and availability of only Rs 2,000 notes at many ATM centres.

Visakhapatnam district lead bank manager D Sarath Babu said more than 50 per cent of the ATMs in the district were configured for storing the higher currency note. “If any ATM is seen working now, it means that it is loaded with the Rs 2,000 notes as there is a huge shortage of lower denominations,” Sarath Babu said.

Sarath Babu said the RBI released the Rs 500 notes at Hyderabad and some Vijayawada banks also got the notes. They were waiting for the new Rs 500 note which is set to reach the city in a couple of days. However, they would not expect more than Rs 5 crore of the new Rs 500 notes, he said.

“Once the Rs 500 notes arrive, we will be able to get some relief from the existing currency crisis,” Sarath Babu said.

He further said a number of review meetings were held on Thursday by officials including district collector Praveen Kumar and senior official Lav Agarwal over actions to be taken to tide over the present crisis.