Maharashtra Finance Minister Sudhir Mungantiwar said on Wednesday that the new currency notes of Rs 2,000 denomination of worth Rs 350 crore had already been made available for circulation in Mumbai. Anticipating panic and rush at bank counters in the financial city for exchanging Rs 500, and Rs 1,000 notes on Thursday, the Finance Minister and RBI officials had convened a meeting with bankers in the state. Discussions were also held with senior police and Home department officials for reviewing law and order arrangements.
WATCH VIDEO: Here’s What The New Rs 2000 Note Looks Like
Mungantiwar later issued an appeal urging people not to panic. “People have time till December 30 to deposit the now invalid currency notes. There is no rush. Our appeal is that when banks reopen Thursday, only those in urgent need of cash and exchange of notes must visit banks,” Mungantiwar said.
The RBI also issued a notification stating that all banks would remain open this Saturday and Sunday. While the state government has requested the RBI to also consider ordering banks to work extra hours, central bank had not notified any such order.
“At present, there is enough legal currency to last the city for five days. The RBI has posted three additional officers in each banking zone to provide more currency notes,” the minister said, adding that the police department had been directed to provide additional deployment outside banks to maintain law and order. The local Collector and officials have also been informed. “The banks have been advised to take steps to ensure there is no inconvenience to people. The state government will step in if banks do not comply with these instructions,” the minister said.
Mungantiwar also informed that those who do not have a bank account could deposit cash in another person’s account after producing an NOC from that person.