'Action will be taken against State Bank of India (SBI) officials who indulge in exchange of old currency notes in ways other than the allowed method', says Arundhathi Bhattacharya President of State Bank of India.
Arundhathi Bhathacharya participated in an event for the contribution of private companies’ social contribution which was held at the SBIs Coimbatore head office. In this event, Rs.23,59,831 rupees was donated to Sri Avinashilingam Trust's training academy. She also inaugurated the E-corner facilities at Chikkarajapuram, Varadharajapuram, Kariyamanikkam and Sathankulam, under the SBI Digital Village Scheme, through which people can access on-line banking facilities through WIFI.
When speaking to the press she said:
"60 percent of ATMs have been refurbished and in 5 days the remaining ATMs will also be refurbished. SBI bank has received the new 500 rupee currency and from today they will be distributed by the Chennai branch of SBI banks. Efforts will be taken to make the new 500 rupee notes to be available in Coimbatore.
Chances of the interests rates for the loans obtained in banks may get reduced. Digital transactions have increased up to 300 percent and the value of money that is transacted has increased 200 percent. 841 mobile SBI ATM's are deployed to cater to the needs of the people post demonetization.3600 POS devices have been installed at the toll gates for smooth transactions.
The demand for 500 rupees notes will reduce as soon they will come into distribution. People are holding back lower denomination notes like 100's, 50's that is also the reason for scarcity of adequate money circulation.
So far we have not got any information about bank officials involved in malpractices in changing the currency. If somebody is found to be involved in any such incidents, action will be initiated against such officials. With regard to the incident at Natrampalli Branch in Vellore district, the branch manager will be given counseling on how to behave with the customers to avoid such incidents in the future. We are waiting for the decision of the central government on connecting all the SBI banks in India.”
Senior SBI officials from the district participated in this event.