SHILLONG, Nov 22: A review meeting was convened on Tuesday by the Meghalaya Chief Secretary to take stock of availability of funds in the Banks/Post Offices in view of Demonetization of Rs 500 and Rs 1000 notes.
The meeting was attended by Dr Sumeeth Jerath, Additiol Secretary & Fincial Advisor, Union Ministry of Exterl Affairs, (who has been deputed to the state to assess the situation) the officers of RBI, all major banks and the Postal Dept.
During the review meeting remittance/funds received by various banks in the state was reviewed and it was noted that though adequate amount in the denomition of Rs 2000 notes have been received in the State, the availability of smaller denomition notes was still a cause of concern.
It was informed in the meeting by the RBI that Rs. 500 denomition notes are expected to reach the State within this week and this will ease the situation to a great extent.
Dr Sumeeth Jerath informed that he had consultations with the Regiol Director, RBI, Guwahati and he had assured all possible support and help to the State.
He further informed that adequate directions have been issued by the Ministry of Fince to ensure that the issue of availability of funds to the State is addressed in the right earnest.
He will be visiting Ri-Bhoi, West Khasi Hills and West Jainita Hills districts during his visit.
It was informed that most of the ATMs in the State have been calibrated to dispense the Rs. 2000 notes and the work on calibration for Rs. 500 notes would be completed shortly.
The Postal Department informed that in addition of 68 sub offices in the state, 438 Branch Offices would also be distributing and exchanging the money.
This is expected to further ease the pressure on the banks as well as help the public in the rural areas.
At the review meeting the SBI was advised to ensure adequate availability of lower denomition currencies and coige to the Department of Post for the purpose.