Rs 500 notes likely to arrive by next week

Visakhapatnam: The new Rs 500 denominations, which were released at New Delhi and other metro cities in the country on November 13, are likely to reach the north coastal districts of Srikakulam, Vizianagaram and Visakhapatnam by next week.
The distribution of the Rs 500 notes will be done from the RBI regional office in Hyderabad, said a bank official, adding that it would take some time to reach all branches, the officer said.
However, Andhra Bank deputy general manager B Vijaya Lakshmi said they are yet to get information regarding the configuration of the notes in the existing ATM centres.
“If the new Rs 500s are designed similarly to the old notes, then it will not be a problen. If there are changes in the size of the note, then we would have to calibrate the ATMs in order to load the currency. We have not received any communication about the features of the Rs 500 notes so far. There will be no problem in manual distribution of the new Rs 500 notes at the branch offices,” Vijaya Lakshmi said.