On the last day, banks see nearly Rs 500 cr in old currency deposits

Visakhapatnam: Banks in Vizag received deposits of less than Rs 500 crore of demonetised notes on Friday, the end of the deadline for depositing the old Rs 500 and Rs 1,000 currency notes.The branch staff are yet to calculate the total amount of deposits they have received. For the banks, March 31, 2017, is the last date for depositing theold notes with the Reserve Bank of India (RBI).Speaking to TOI, Ajoy Kumar Pandit, State Bank of India deputy general manager for Visakhapatnam zone, said the amount of demonetised noted they received on Friday is negligible when compared to the amount they received in the first week of the demonetisation drive.“On Thursday, we received Rs 1,050 crore, all in Rs 500 notes. This apart, the Vizag chest again got Rs 2,000 crore on Friday for distribution to the five districts,” Pandit added.Andhra Bank deputy general manager B Vijaya Lakshmi said they were yet to assess the total deposits on Friday, but added that the bank got nearly Rs 6 crore on an average daily till Thursday from all its 80 branches in Visakhapatnam district.The RBI has asked the banks to sumbit reports on the deposits of demonetised notes after office hours through email on Friday. “All lenders including public, private, rural and cooperative banks have been asked to gather information on deposits of the demonetised currency,” said an RBI employee from the city.However, many banks including public, private and co-operative banks could not send the report in time due to non-receipt of reports from the branches in remote areas.“We could not send the report on Friday. We will be able to send it only by Monday,” said a senior public sector bank official.