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1-min read

Some Relief at Last as New Rs 500 Notes Debut in Delhi and Bhopal Banks

A section of the country may get some immediate relief from the cash crunch triggered by the government’s demonetization move. Sources in the Finance Ministry told CNN-News18 that the new series of Rs 500 notes will be introduced in Delhi, Mumbai and Bhopal on Sunday.

Ashish Mehrishi | CNN-News18

Updated:November 13, 2016, 7:09 PM IST
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Quick Read

  • New series of Rs 500 notes to be introduced in Delhi, Mumbai and Bhopal from Sunday
  • Some State Bank of India ATMs that have been recalibrated may start dispensing the new Rs 500 notes

New Delhi: A section of the country got some immediate relief from the cash crunch triggered by the government’s demonetization move as the new series of Rs 500 notes were introduced in Delhi and Bhopal on Sunday.

Sources in the Finance Ministry told CNN-News18 that Mumbai too would get the new Rs 500 notes on Sunday.

Some State Bank of India ATMs that have been recalibrated may also start dispensing the new Rs 500 banknotes, sources said.

With queues outside banks and ATMs showing no signs of abating, officials from the Prime Minister’s Office and the Finance Ministry were scheduled to hold a meeting at 3:30pm. PM Narendra Modi was also said to review to the situation in the evening.

Earlier in the day, Modi asked Indians to put up with the inconvenience of demonetization for 50 days, or until December 30. His speech came a day after Finance Minister Arun Jaitley said it would take 21 days more to recalibrate all two lakh ATMs in the country.

PM Modi in a televised announcement on November 8 said Rs 500 and Rs 1,000 notes would cease to be legal tender and new Rs 500 and Rs 2,000 notes would be introduced.

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| Edited by: Nitya Thirumalai
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