Post offices collect, exchange scrapped notes worth Rs 435 crore

November 12, 2016 19:21

Post offices across Maharashtra and Goa have collected as well as exchanged the demonetised

currency notes worth around Rs 435 crore within two days, a senior official said today.

After Prime Minister Narendra Modi announced demonetisation of Rs 500 and Rs 1,000 notes, people have been thronging not only banks, but also post offices, to exchange the scrapped currency notes.

"On 10 November, our post offices collected savings deposits and exchanged demonetised notes worth around Rs 205 crore. On Friday, the day's collections went up to Rs 230 crore," Chief Post Master General of Maharashtra and Goa circle H C Agrawal said.

The postal department had initially witnessed some problems in distribution of newly-printed currency notes.

"Now, the process of exchanging old notes with new ones, has been streamlined. The total value of transactions will go up in the coming days," he said.

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