City Union Bank gets Rs 600 cr ‘demonetisation deposits’

Chennai, Nov 12 (IANS) Private sector City Union Bank has mopped up around Rs 600 crore as “demonetisation deposits” across the country during the last three days, said a top bank official on Saturday.

He also said the operations of automatic teller machines (ATM) are getting smoother.

“We have collected around Rs 600 crore of deposits during the last three days. The value of 500/1,000 rupee notes that got exchanged is not known,” N. Kamakodi, Managing Director and CEO told IANS.

The old generation private bank has 525 branches across the country.

Speaking about the bank’s ATMs he said: “Around 30-50 per cent are working. The machines are being filled as and when cash is received from the Reserve Bank of India (RBI). The machines get empty fast.”

On Tuesday, the Centre announced that Rs 500 and Rs 1,000 notes ceased to be legal tender from November 8 midnight.