Mysuru

Mysore Airport

Mandakalli

Bengaluru

Reserve Bank of India

Bharatiya Reserve Bank

State Bank of India

ATR

Airports Authority of India

AAI

Jet Airways

Kingfisher Airlines

Kingfisher

QUEUE AND YAY!

Samaritans

PSU

The National

QUEUE AND YAY!

gold

Bank

For the last six months, a chartered plane had been quietly ferrying the new Rs 2,000 notes from the government press into RBI HQ in New Delhi to enable Narendra Modi’s 8/11 masterstroke. Looks like the Mysuru airport was not a dead investment after allFor all the shoddy treatment given toatover the years, it is the single runway at this airport which has come in handy to carry out one of the most earth-shaking policy decisions that the Indian government has taken – demonetisation of Rs 500 and Rs 1,000 currency.Shrouded under extreme secrecy over the last six months, a private chartered flight quietly took off and landed at the airstrip at Mandakalli in a long series of flights.These flights were to several large cities – including– where thebranches are located.The special missions were meant to carry stashes of crisp Rs 2,000 notes, printed at the currency note printing press in Mysuru, and deposit them at various RBI branches in other cities. That was in preparation to roll out the demonetisation scheme to catch black money hoarders off-guard.The RBI branches were gearing up to launch the new notes.Note Mudran Limited-managed currency note printing press in Mysuru is a high-security zone with an exclusive railway line and a dedicated water supply pipeline.The two-decade-old press – which is rated one of the best currency printing presses in the world -- had also handled the printing of the first Rs 1,000 notes. It has its own currency paper production unit in its premises where the special security currency paper is manufactured.The printing of Rs 2,000-denomination notes began about six months ago. Nobody had even got a whiff of what was round the corner.On Thursday, after six months of flight operations transported the new currency, the banks across the country were supplied the new Rs 2,000-denomination currency notes for issuance to the public – ranging from Rs 20 lakh to Rs two crore per bank/branch, depending on the size.The Union government had hired the services a private chartered flight operator to ferry the stashes of new currencies from the Mysuru press to various RBI branches.The Centre paid a total of 1 lakh Euros (about Rs 73,42,000) to the private charter through RBI Bengaluru’s account at one ofbranches.“The charter flights flew regularly to the airports nearest to where the new notes were destined for. The new currency notes were transported in vehicles and under heavy guard to the RBI branches,’’ said an official who has been privy to the entire operation, but preferring to speak on condition of anonymity.Mysore’s airport at Mandakalli was built and commissioned with much fanfare but saw commercial operations only for a few years.The Mysore airport can handle72 turboprop and similar aircraft and has a single passenger terminal spread over 35,000 sq ft. It was developed at a cost of Rs 82 crore by the), and inaugurated in 2010 during the tenure of chief minister BS Yeddyurappa.andflights operated initially.Although it was expected that the airport would be put to extensive use, considering Mysuru handles more than 25 lakh tourists annually and Infosys’ huge campus with nearly 20,000 workforce is located there, the project fell flat. While Jet andflights operated for a few years, after the latter was grounded, the airport too became non-operational.Those who are generous enough to take in old currency notes while returning change in denomination of Rs 100 or Rs 50 are now called “good Samaritans”, most of them being the cab drivers! For cabbies, they are unable to buy fuel with new notes as thepetrol pumps are taking only demonetised notes. Hence, cabbies are taking demonetised currency from customers, which they can use at the petrol pumps. In doing so, they are helping the hapless customers!Many house owners have been saying they are usually fed up of their tenants not paying rent on time. But now, the tenants are eager to cough up money -- even make advance payments for the next few months. The payments are being made in demonetised notes. Same is happening in schools where parents are rushing to pay using the demonetised notes.The cooperative banks are in a great demand. Most of the requests they are getting are for depositing monies – which means the demonetised notes.Getting loans from private financers has become easier. Debtors normally have to pay heavy interest rates or pledge their properties. Now, private financers are voluntarily offering loans. The only rider for doling out loans is that the amount will be given in the demonetised currency to the debtors, but the latter would have to repay the loans in new currency.Whenever one needs to either exchange notes, deposit or withdraw at the banks, they need to submit an RBI prescribed format along with photo copy of address proof. As many banks say they have run out of forms, the photo copy shops are making hay by selling these forms! With frequent power cuts in the last few days, it is not just queues in front of the banks, but also at these photocopier shops.Highways Authority of India has given another three-day offer of travelling free on all tolled roads. This is scope for big savings for those driving long distances. According to Union government, travelling on national highways is free till November 14th midnight. The decision comes after large queues were reported on Wednesday at toll booths across the country. However, NICE road toll booths will not be free.* Queues in front of banks grew longer on Friday and are expected to be longer on Saturdays and Sundays* ATMs opened on Friday though half of them remained closed or ran out of cash in a short time.* There are thousands of chit fund operators in Bengaluru, and the entire business came to a standstill as people were ready to give old currency notes but none to accept it* Those who had boughtloan continue to suffer as they were unable to repay it as pawn brokers refused to take old currency notesemployees continued to face the brunt and ire of the customersPSU petrol bunks are a boon for those wanting to buy fuel with demonetised currency. PSU petrol bunks in fact have put up boards saying they will not accept new currency notes, but only the demonetised currency notes. But customers should not expect any change in return. Which means they fill up their tanks for the entire amountFor the last three days, the city roads are looking a bit ‘deserted’. Either people are scared to ‘invest’ in fuel or they are standing in queues! Either ways, it is happy driving on most city roads.