Rs 2000 is not a good mode of exchange yet: SBI Chief

The new replacement banknote of Rs 2,000 is not a good mode of exchange and people feel constrained as they were not able to transact freely, said SBI chief Arundhati Bhattacharya. In an interview to CNN-News18's Anuradha Sengupta, Arundhati Bhattacharya, Chairman of SBI said though the ATMs had adequate Rs 2,000 notes nobody seems to be transacting in the higher denomination notes.

She also said the situation should normalise by February end as the number of Rs 500 notes exceed Rs 2,000 notes. She said going forward Rs 500 notes would be dispensed not only through ATMs but also over the counters. She also feels that with adequate injection of Rs 500 notes into the marketplace transactions would increase and people will begin to get back a sense of comfort.

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