With 50 days of demonetisation almost passed, it seems that the new Rs 500 note is now available in sufficient numbers in ATMs across Bangalore. This development is seemingly good news considering the fact that the new Rs 500 note was hard to get at ATMs and even bank branches. The new Rs 2000 note was the only available currency for withdrawal.
Now, we checked out multiple ATMs, operated by both government and private banks (not MNC banks) and were able to secure the new Rs 500 note relatively easily. Even the long queues of people were not found outside ATMs located in the heart of Bangalore.
This scenario is favourable considering the fact that a majority of people seemed fed up with ATMs dispensing only the Rs 2000 notes. Some of the people even raised issues with regard to this, as finding change was a problem. Now, this could change drastically.
At this juncture, another notable fact is that rumour mills are abuzz about the government coming up with various people-friendly measures to combat the issue of cash crunch, beginning from January 1, 2017. Now, with the new Rs 500 notes available in seemingly significant numbers in Bangalore, this could be the first step towards adapting the rumoured people-friendly measures.
However, when we checked out the ATMs (in Bangalore), the Rs 100 notes were still not getting dispensed. The only currencies available were the new Rs 500 and the Rs 2000 notes. An official, at a reputed government bank, on the condition of anonymity, stated that the Rs 100 notes would be stocked enmasse soon in a bid to completely put an end to the cash shortage. The officer also added that banks were now loading ATMs with new Rs 500 notes.
Physical bank branches though, are issuing the Rs 100 notes normally. However, these are restricted to own customers of the bank.
Therefore, you can check out an ATM near you, and let us know if you managed to get the new Rs 500 along with the Rs 100 notes in ATMs.