Stacks of junked notes lying with coop banks: Pawar

Stacks of junked 500 and 1000 rupee notes are lying in district central cooperative banks after they were not allowed to deposit them in currency chests and this was affecting crop loan disbursal, veteran NCP leader Sharad Pawar said on Wednesday.

Raising the issue during the Zero hour in the Rajya Sabha, the Maharashtra-strongman said the district central cooperative banks (DCCBs) were saddled with large sum of junked currency after the Reserve Bank midway withdrew its permission to them to accept the demonetised currency.

The deposits they had received before withdrawal of the permission is now lying in their chest, he said.

Following the withdrawal of old 500 and 1000 rupee notes from circulation on November 8, 2016, the junked currency was allowed to be deposited or exchanged in banks.

The DCCBs accepted and exchanged the demonetised currency notes between November 10 and 13, 2016, but they were subsequently barred from doing so, leaving them with stacks of junked currency, Pawar said.