Demonetisation: SBI chief says situation will normalise by Feb-end
Highlighting the need to promote paper cashless economy, State Bank of India Chairman Arundhati Bhattacharya on Tuesday said the prevailing situation arising out of note ban policy will get normalised by end of February.
“We believe that the situation will become totally normal by the end of February,” Bhattacharya told reporters at the airport after arriving to participate in the 8th Vibrant Gujarat Global Summit.
Bhattacharya remarked that SBI is ensuring the convenience of its customers by supplying adequate cash to bank branches and it will ensure that account holders are not made to stand in queues.
“In the Vibrant Summit, we will try to discuss the issue of promoting digital. Currency notes will again come back into circulation, there is no doubt about that. But, if after notes are back, and we continue to behave like we did before demonetisation, then the exercise will yield no benefit,” Bhattacharya said.
“So, we would like to discuss the issue of promoting digital, and spread awareness about digital,” she added.
The Centre had on November 8 last year, scrapped Rs 500 and Rs 1,000 notes, which led to long queues outside bank branches.