Andhra Pradesh State Level Bankers’ Committee (SLBC) has requested the Reserve Bank of India (RBI) to permit cooeprative banks to accept Rs 500, Rs 1,000 notes for loan repayments.
A resolution was also passed at its meeting held in Vijayawada on Monday following the advice of AP Chief Minister N Chandrababu Naidu.
It was also decided that no service charge would be levied till 30th December for those who are using RuPay cards and the charged capped by per Visa/Master Card should be borne by merchants.
Speaking on the occasion, the Chief Minister said money circulation and rotation was important to tide over cash crunch being faced in the wake of demonetisation.
He also appealed to the bankers to disclose the availability of cash in currency chest.