10 days after the demonetisation of the old Rs 500 and Rs 1000 notes, the introduction of new Rs 500 notes is set to give relief to citizens. As per media reports, certain bank branches started disbursement of new Rs 5o0 notes on Friday.

Treasury branch of SBBJ at Townhall Udaipur started disbursement of Rs 5oo notes on Friday. As per bank officials, a large set of ATMs have been recalibrated. Select ATMs may see a disbursement of the new Rs 500 notes starting today. ATMs in the city were expected to have one cassette filled with 1000 notes of Rs 500.

The introduction of new notes of Rs 500 denomination would come as a huge relief as the new Rs 2000 notes were finding limited usage due to shortage of smaller denominations for change.

Incidentally, the city has witnessed deposition of Rs 4000 Crore of cash over the last ten days. Of this, the last 3 days have witnessed particularly high traction with Rs 1000 Crore being deposited therein.