It would be made available to public from Thursday.
The central bank on Sunday emailed a circular to all the 18 Gujarat-based DCCBs, asking them not to accept and exchange the demonetised Rs 500 and Rs 1,000 notes.
The RBI said, "There were reports that some cooperative banks were not strictly adhering to the instructions issued in connection with the withdrawal of legal tender status of the existing Rs 500 and Rs 1000 bank notes (specified bank notes)". "The DCCBs are the backbone of rural economy and they have to be allowed to cater to the people's needs when there is a complete chaos due to the demonetisation announcement", Sawant said. The regulator also clarified that the cash withdrawal limit of Rs 24,000 per week was not applicable to withdrawal of cash by a DCCB from its account with any other bank. However, he was at his wit's end to find that at least 130 currency notes given to him were at various stages of mutilation. Strict directive was given not to accept the scrapped notes as deposit or loan payment.
Farmers in Odisha have been affected after RBI ban on DCCBs accepting demonetised notes, says Cooperation minister Damodar Rout.
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However, this was not the only problem for people.
According to Venkatachalam, there should be a software/technological solution rather than the indelible ink. Most of these banks cater to the farming community and poorer classes.
Since the ink cannot be removed for about a week or more, people are unsure if they can exchange cash a few times during that period.
The official also urged people not to believe the rumour of Rs 10 coins declared invalid by the RBI. The coins are genuine and must be accepted by retailers who have been rejecting it the most, the apex bank officials said.