New Rs 500 notes within this week: RBI

By Our Reporter

SHILLONG, NOV 22: The Rs 500 denomination new notes are expected to reach the state within this week as the ATMs throughout the state as the work on calibration for Rs. 500 notes is expected to be completed shortly.

RBI officials informed the state chief secretary and additional secretary & financial advisor to the Ministry of External Affairs Dr Sumeeth Jerath during a review meeting convened by chief secretary KS Kropha on Tuesday to take stock of the availability of funds in the banks/post offices in view of the demonetization of 500 and 1000 rupee notes.

Besides the two, officers of RBI, all major banks and the postal department were also present.

Remittance/funds received by various banks in the state was reviewed and it was noted that though adequate amount in the denomination of rupee 2000 notes have been received in the state, the availability of  smaller denomination notes was still a cause of concern.

However the RBI officials informed that Rs. 500 denomination notes are expected to reach the state within this week and this will ease the situation to a great extent.

Jerath, who has been deputed by the union government to the state,  informed that he had consultations with the regional director of RBI, Guwahati and he had assured all possible support and help to the state. He said that adequate directions have been issued by the Ministry of Finance to ensure that the issue of availability of funds to the state is addressed in the right earnest.

He will be visiting the Ri-bhoi, West Khasi Hills and West Jainita Hills districts during his visit.

Kropha informed that all measures are being taken to ensure adequate availability of money in the state for smooth functioning of the economy and to ensure that the public is not put to any inconvenience during this transition period.