Co-operative banks claim they were given soiled notes

SURAT: While people in the Diamond City continue to reel under severe currency crisis, with most of the ATMs putting up signboards expressing inability to dispense cash, the co-operative banks had returned Rs 30 crore notes given by a private sector bank alleging that they were soiled.
Sources in the co-operative banking sector said that few banks including Prime Co-operative Bank, Varachha Co-operative Bank and Surat Peoples bank had asked for Rs 30 crore cash from a private sector bank chest. The bank supplied the cash to these banks but most of them were allegedly soiled and could not be given to the customers or even loaded in the ATMs .

The banks collectively returned all the bundles of soiled notes to the bank and managed to get Rs 25 crore from other private bank chest.

Vice-chairman of co-operative bank said, “Are the customers going to accept the soiled notes? The private bank should understand this and stay away from such tactics to clear the soiled notes. The city is facing currency shortage and we are answerable to our customers.”
He added, “The private banks have their head offices either in Mumbai or Delhi and they easily get the currency stock from RBI. Even they are not helping the nationalized banks in the time of cash crunch.”
A senior officer of State Bank of India (SBI) said, "We have been assured by RBI on the supply of requisite currency in the chest by Thursday morning. The shortage is expected to ease a bit for our customers."
Talking to TOI, joint secretary of Gujarat Bank Employees Association, Jayant Barot, said, “ The RBI must understand the problems of the common people. Without cash hand, the economy will come to a standstill. About 80% people are not using digital transaction. Enough supply of currency should be made at the earliest.
by via Surat News, Latest Surat News Headlines & Live Updates - Times of India