Banks getting back to normal, queues getting shorter, says ICICI CEO on demonetisation

Chanda Kochhar said ICICI has been the first bank to provide currency notes of Rs 2,000, Rs 500 and Rs 100 simultaneously at its ATMs

Speaking to reporters after the Parliament session on Thursday, ICICI Bank Managing Director and Chief Executive Officer Chanda Kochhar said that the situation at the banks is getting back to normal gradually and added that queues are getting shorter and there is enough cash being made available.

"Situation is getting better as the banks are working in an organised manner. There are separate queues being arranged at various places to avoid chaos," said Kochhar.

Adding to this, she said that ICICI has been the first bank to provide currency notes of Rs 2,000, Rs 500 and Rs 100 simultaneously at its ATM's.

Appreciating the efforts of the Reserve Bank of India (RBI), Kochhar said that it has only been possible under the supervision of the RBI that the banking industry has been able to gradually calibrate its ATM machines at various places.

"Not only this, banks have taken various other steps to provide sufficient currency as it has initiated starting the paused machines, providing cash to the money exchangers at the airports so that travellers can easily avail cash and also, there is a special privilege given to senior citizens," added Chanda.

On being asked if the government's decision to demonetize Rs 500 and Rs 1,000 currency notes are valid, she said that the decision should not be taken as pressure.

"This is a national duty, and everyone should enact upon the same. The bankers have been working 24x7 to serve the people, so similar cooperation is required," she added.

"The RBI has enough currency so people do not need to panic. As soon as the currency gets distributed, all ATM's will get calibrated and the situation will ease," she added.