The new 500 rupee note has been released by the Reserve Bank of India. The RBI has already moved 50 million five hundred rupee notes to various State Bank branches and five million more notes will be added this upcoming Wednesday.
These notes have been introduced in Delhi, Mumbai and Bhopal State Bank of India (SBI) branches on Sunday. “It is a historic moment for all of us,” an employee with the SBI told ANI.
Some recalibrated SBI ATMs may also start dispersing the new Rs 500 banknotes, sources said.
The five million 500 hundred rupee notes came to RBI from the Nasik Currency Note Press.
More hundred rupee notes are being printed in Madhya Pradesh and the Nasik currency note press.
New Rs 500 notes issued, visuals from a bank in Bhopal. pic.twitter.com/biWBCzjQYA
— ANI (@ANI) November 13, 2016
“The Reserve Bank of India assures members of the public that enough cash in small denominations are also available at the Reserve Bank and banks. The Reserve Bank urges that public need not be anxious; need not come over to banks repeatedly to draw and hoard. Cash is available when they need it,” the RBI said in a statement.
The Finance Minister Arun Jaitley said on Saturday that the normal supply of new notes may take three weeks.
People have been increasingly losing patience with the government’s inability to deal with the rush and many places reported angry scuffles with bank officials. It is believed that the prime minister held two meetings on Sunday to review the situation. Earlier, the prime minister at a public function had asked people to put up with the inconveniences for the greater good of the nation.
