Bankers sore over one-day window to shift notes to chests

January 1, 2017

Bengaluru, Jan 1: The Reserve Bank of India's (RBI) circular asking banks to complete the accounting process and deposit banned notes in currency chests or at the local RBI offices by Saturday has been criticised by bankers.

bank
“The central bank has started functioning like a local cooperative society. On Friday, it instructed all banks to remit all specified bank notes of Rs 500 and Rs 1,000 denominations with it or the attached currency chests,” a top bank official of a public sector lender said.

“Bank branches are keeping huge cash in crores and it is impossible to remit entire cash at one go,” the official said.

Purushotham A P, manager of the Chitradurga branch of IDBI bank, was more vocal.

“Currency chests have no space to keep cash. They are refusing to accept old notes due to shortage of space. Rural branches will face transportation issues. In semi-urban locations, just one or two chests are functioning and they can't accept cash from all branches. Such branches are instructed to remit money at distant places where more chests are available.”

“Some banks had instructed their officers to remit cash late on Friday at 10 pm. Bank officials were still in the banks and getting ready for cash remittance. Some managers are taking huge cash in their own vehicles. Who will take care of our security?” Purushotham said.

Another bank manager said, “The RBI should think of practical difficulties before issuing any circular. At least, senior bank officials should convey problems faced by the bankers while shifting huge money at short notice. Who cares for bankers' safety?”

Banks have been transferring money to currency chests on a day-to-day basis.

“For the past one week, chests are flooded. We have to transfer currency from chests to the RBI. For that we have to get permission from the RBI. We have been regularly moving cash from our branches to the chests. But the currency chests are flooded and the RBI has not given the lifting order,” another official said.

“The RBI should have given orders in advance to shift currency to the chests. On Friday evening, the RBI instructed to deposit the cash. In a normal course, if it is within city limits, the chests are accessible. In rural and semi-urban areas spread far and wide, for them to come and deposit the money will take time. However, all people are on the job to comply with the guidelines. It is impossible to clear currency in a single day,” the official said.

Comments

Skazi
 - 
Sunday, 1 Jan 2017

REVERSE BANK is full of IDIOTS......

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
December 19,2025

Mangaluru: The Mangaluru CEN police have arrested a 23-year-old man for allegedly posting provocative and misleading content on an Instagram page named “mr_a_titude”, targeting the Bajpe police.

Mangaluru Commissioner of Police Sudheer Kumar Reddy C H identified the arrested as Abhishek M, a resident of Katipalla in Mangaluru.

A case has been registered at the Bajpe Police Station under Sections 353(1)(c), 353(2), 56, and 57 read with Section 189 of the Bharatiya Nyaya Sanhita (BNS) in connection with the post.

According to police, the accused uploaded a photograph of a hotel on the Instagram page and alleged that accused persons in a murder case under the Bajpe police jurisdiction were being given “royal treatment” by the police, including being served beef meals daily from the hotel.

The post further accused the police of supporting criminals, misusing their authority, and betraying public trust. Police said the content was provocative in nature and aimed at inciting public outrage against the police.

Following the post, a case was registered at the Bajpe police station, and further investigation was transferred to the CEN police station.

Police records indicate that the accused has a criminal history, with multiple cases registered against him, including murder, attempt to murder, assault, and robbery at the Surathkal Police Station, and one case at the Kaup Police Station.

The Commissioner said the accused was traced and arrested using technical evidence.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
December 15,2025

Mangaluru, Dec 15: Air India Express has announced that it will resume direct flight services between Mangaluru and Muscat from March 2026, restoring an important international air link for passengers from the coastal region.

Airport authorities said the service will operate twice a week—on Sundays and Tuesdays—from March 1. The initial flights are scheduled on March 3, 8 and 10, followed by March 15 and 17, with the same operating pattern to continue thereafter. The flight duration is approximately three hours and 25 minutes.

The Mangaluru–Muscat route was earlier operated under the 2025 summer schedule, with services beginning on July 14. At that time, Air India Express had operated four flights a week before suspending the service.

Officials said the summer schedule will come into effect from March 29, after which changes in flight timings and departure schedules from Mangaluru are expected. Passengers have been advised to check the latest schedules while planning their travel.

The resumption of direct flights to Muscat is expected to significantly benefit expatriates, business travellers and others, further strengthening Mangaluru’s air connectivity with the Gulf region.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
December 16,2025

SMR1.jpg

Melkar (Bantwal): The 9th Annual Day celebration of SMR Public School, titled “EXCELLENTIA”, was held on December 15 with great enthusiasm and dignity, marking a significant milestone in the institution’s journey towards academic excellence and holistic development.

The programme was inaugurated by Dr. U. T. Iftikar Ali. The chief guests were Dr. Akhtar Hussain, Mr. P. Moosabba Beary, Mr. Zakaria Jokattre, and Dr. T. M. Abdul Rahuf—whose inspiring addresses motivated the students and appreciated the school’s contributions to education.

Mr. Abdul Nasir, Mr. Ibrahim Gadiyar, Mr. Razak Golthamajal, Mr. Sali Koya, Mr. Arshad Hussain, Mr. Ismail Balanoor, Mr. Feroz Bawa, Mr. Sahul Hameed, Mr. Abubakkar, Mr. Hameed K. Mani, Mr. Abdul Majeed (Principal, Melkar Women’s College), and Mr. Abdul Lathief (Former Principal, Melkar Women’s College) were the guests of honour.

The Annual Report was presented by the Headmistress, Ms. Fathimathul Zaheera, highlighting the school’s achievements and progress during the academic year. The Presidential Address was delivered by the Chairman of SMR Public School, Dr. Haji S. M. Rasheed, who emphasised the vital role of education in shaping students’ futures and stressed the importance of discipline, dedication, and consistent effort in achieving 100 per cent academic results.

Secretary of SMR Public School, Mr. Rifath Ahmed, and PTA President, Mr. Sandeep Kumar, were also present on the occasion.

The Annual Day celebration showcased the collective efforts of students and teachers and reaffirmed the school’s commitment to quality education and all-round development. The programme concluded with a vote of thanks, expressing gratitude to all dignitaries, parents, and well-wishers for their support. The 9th Annual Day—EXCELLENTIA—was a memorable and successful event, leaving a lasting impression on everyone present. 

SMR3.jpg

SMR2.jpg

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.