JK Bank ‘Operation Mop up’ to rid State of soiled, unfit notes

GK NEWS NETWORK

Jammu, April 27: J&K Bank today launched ‘Operation Mop up’, a drive under which it will clear up soiled and unfit notes of lower denominations from the market.
On its launch, Chairman & CEO, J&K Bank Mushtaq Ahmad said under this drive the Bank shall provide clean notes of Rs 5, 10, 20 and 50 that constitute more than 65 per cent of the total volume of currency in the country, in exchange of soiled ones.
He said all branches of the Bank spread across Jammu and Kashmir shall be exchanging soiled and unfit notes of smaller denominations with issuable or fresh currency notes.
Mushtaq advised public especially the business community not to circulate soiled notes in the market and instead exchange the same from any business unit of the bank. “The idea is to get our state rid of the soiled and unfit notes,” he said.
The campaign, apart from being in pursuance to RBI’s clean note policy, is in continuation with the “Clean Cash, Clean Commerce” initiative the Bank launched a few months back.
Mushtaq thanked RBI for providing “support” to the Bank in this drive.

Lastupdate on : Wed, 27 Apr 2011 21:30:00 Makkah time
Lastupdate on : Wed, 27 Apr 2011 18:30:00 GMT
Lastupdate on : Thu, 28 Apr 2011 00:00:00 IST



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