Indian Bank to disburse new Rs 500 notes in TN in coming days

As there is a huge demand for the new Rs 500 currency notes following the Centre's demonetisation move, public sector bank Indian Bank today said it was likely to dispense the new Rs 500 currency notes in Tamil Nadu in the coming days.
"Right now, we are exchanging the old notes with the available currencies we have. This is being done with the newly-introduced Rs 2,000 or the old Rs 100 currency notes. We are expecting the new Rs 500 notes to reach Tamil Nadu in one or two days," a senior official of Indian Bank said.
Following the Centre's withdrawal of Rs 500 and Rs 1,000 currency notes from circulation, the shortage of small-denomination currency notes has crippled trade in Tamil Nadu. While a large number of people continue to stand in long queues at banks to exchange their old currencies with the valid ones, Reserve Bank of India has introduced the new Rs 2,000 currency note last week.

Asked about when the new Rs 500 currency notes were likely to be made available, he said, "Reserve Bank of India has taken steps for the disbursal of the Rs 500 notes. The new Rs 2,000 notes have already come. Now, we will get the Rs 500 notes. It is likely to reach in one or two days. Till then, we would have to be patient."
Stating that the bank had 250 ATMs in and around Chennai, he said about 100 ATMs were disbursing the new Rs 2,000 currency notes and the bank had taken steps to calibrate the remaining ATMs to dispense the new currencies.