Provide 200 notes: Banks to RBI

Tirupati: The banks functioning in the district have brought to the notice of the Reserve Bank of India (RBI) officials that they are facing shortage of Rs 200 currency notes. So far, majority banks did not receive Rs 200 notes from the RBI.

A regional-level review meeting held with RBI officials here on Thursday in which district lead bank Indian Bank and officials of other banks have informed to the RBI about the difficulties faced by them in day-to-day banking transactions after demonetisation.

Responding to bank officials, RBI Zonal Officer Nageswara Rao stated that the RBI had supplied the sufficient notes to Chittoor district through SBI and Andhra Bank. There is only shortage of Rs 50 currency notes in Andhra Pradesh and Telangana, he said. The Zonal Officer made it clear that 10-rupee coins are valid. He called upon banks to organise the coin melas to educate the public on exchange of coins.

He rubbished the rumours of 10-rupee coins are not valid. Saptagiri Grameena Bank officials have asked the RBI officials to sanction a cash chest to overcome the scarcity of cash availability. The Zonal Officer responded by saying that the RBI is considering their plea and assured of sanctioning a cash chest.

In the meeting, Andhra Bank DGM Ganpathi Rao, Syndicate Bank RM Aunradha, Indian Bank DGM Sesha Sai, AGM Siva Prasad, Saptagiri Grameena Bank DGM Jayaram Naidu and other bank officials were present.