The 50-day deadline to deposit old Rs 500 and Rs 1,000 notes ended on Friday with less-than-moderate queues at Jamshedpur banks, which are now working to ensure the second salary day post demonetisation, on Monday, January 2, passes off without a glitch.
This December, over Rs 25 crore in old notes was deposited in banks, said sources, the cumulative figure from November to be tabulated soon.
Banks will be open on the last day of 2016, it being the fifth Saturday of the month, and be closed on January 1, Sunday.
Most of the Rs 6-crore consignment in the form of Rs 500 and Rs 100 notes sent by RBI last week are now being diverted to the nearly 300 private and nationalised banks and their nearly 500 ATMs across Jamshedpur.
"There is no reason for panic. We are doing all we can to cope with salary day rush. We are expecting more supply of cash from RBI in a day or two and we have also arranged from other banking vaults of neighbouring districts (West Singhbhum)," said chief manager SBI main branch Kumod Jha.
He added that with the rush to deposit old notes coming to an end on Friday, they would focus on other banking duties. "The massive push for digital transaction will see less cash demand," he hoped. ?Most account holders said they did not wait for the last day to deposit old notes. "I exchanged mine last month. My mother, a retired schoolteacher, had some with her, which I deposited today (Friday) as she is unwell," said Atul Rohatgi, a Burmamines transporter, at SBI main branch.
He added he was eagerly waiting for achhe din promised by Prime Minister Narendra Modi after the 50-day deadline. "I am eagerly looking forward to his address to the nation tomorrow (Saturday)," he added.
Agreed a prominent city businessman Piyush Adeshra of Chhaganlal Dayaljee Jewellers in Bistupur. "We deposited old notes in November itself. We are hopeful that the government's move will fetch dividends in the long run with GDP growth and a boost in economy that will help us prosper," he said.
Singhbhum Chamber of Commerce and Industry president Suresh Sonthalia said enough time had been given to people to deposit old notes.
He added he was also looking forward to what Modi would have to say on Saturday. "We hope to get some good news from our Prime Minister for the betterment of not just traders but also for poor of the country during his address. We also expect some relaxation in withdrawal limit from banks and ATMs."
Sonthalia added he was optimistic that the cash scenario would improve in banks in the coming days. "Queues at ATMs and banks have gradually decreased after the initial days. I think the cash situation will also improve with more and more people opting for digital wallets and electronic transaction," he added.
