Bengaluru: With eight days left for the December 31 deadline to deposit the denotified Rs 500 and Rs 1,000 notes, all banks in the city are returning to normal with shortened queues and lesser demand for cash.
But thousands of ATMs, majority of them belonging to private banks, are still closed because of shortage of new Rs 500 and Rs 2,000 notes.
Bank officials said that since Monday, pressure on banking activities has come down with more customers opting for digital and online transactions.
"We are witnessing a big increase in the volume of online and digital payments," said a bank manager. "But issue of safety is still the biggest challenge ahead of us. Several consumer forums are flooded with complaints against few wallet service providers," he said.
When will new Rs 500 notes arrive?
The mystery surrounding the non-availability of new Rs 500 denomination notes has still not been resolved by finance ministry and RBI officials. An RBI official, who wished not to be identified, said that Karnataka is yet to receive the new Rs 500 notes. "It is printed in Mysuru and bulk of it is being distributed in North India where the problem is severe," he said.
E-wallets to the rescue of small-time bizmen
E-wallets, like Paytm and others, have come to the rescue of hundreds of small business establishments in the city, including salons, pushcart vendors etc. Payment through e-wallet is accepted in most of places, including salons, even if the amount is just Rs 50 or Rs 60. "It is a good system. I get SMS instantly over the payments," said Hariram, a salon owner.
In several places of the city, milk suppliers have started giving their bank account details for online money transfer to ensure that their customers will not face any problem.
