If govt wasn’t ready then how did new Rs 2000, 500 notes come to market, asked Nirmala Sitharaman

The angst among people due to the decision was escalated after several deaths were reported as a result of people queuing outside banks and ATMs to exchange notes or withdraw cash.

By: Express Web Desk | New Delhi | Updated: November 19, 2016 9:11 pm
demonetisation, demonetisation fallout, demonetisation impact, demonetisation-modi, demonetisation-opposition, banks on saturday, senior citizens, parliament, india news, national news, indian express Prime Minister Narendra Modi’s sudden announcement to demonetise Rs 500 and Rs 1,000 notes in circulation, though welcomed by people across the country, has left many in the lurch.

Banks across the country will remain open on Saturday and follow normal working hours to complete pending work, but only for their own customers. Currency exchange of Rs 500 and Rs 1000 notes will not be allowed today for customers of other banks, the Indian Banks Association said. However, senior citizens are exempted and can go to any bank branch to exchange old notes.

“All these days our own customers have suffered because we have not been able to do their work. So, we have seen lot of pending work at branches especially for our existing customers. We, from IBA, have taken a view that tomorrow, that is, on Saturday we shall be exclusively doing work for our own customers. And tomorrow we will not be doing exchange of notes (for outside customers),” IBA chairman Rajeev Rishi said Friday. This move is applicable only on Saturday and from Monday onwards, the people would be allowed to exchange notes at any bank branch.

Highlights: 

Abhimanyu Chakravorty November 19, 20167:34 pm

Himachal Pradesh: Cash transported to Kaza in Lahaul-Spiti & Pooh in Kinnaur district by state govt helicopters.

Abhimanyu Chakravorty November 19, 20166:53 pm

Have submitted memorandum to FM; unorganised sector workers are going hungry; Govt has taken held life of common people to ransom: Trade Union leader

Abhimanyu Chakravorty November 19, 20166:52 pm

Apprised FM about problems faced by workers of unorganised sector due to demonetisation as 60-70 % are left unemployed: Secy, Trade Union

Abhimanyu Chakravorty November 19, 20166:38 pm

Hyderabad: People withdraw cash by swiping debit cards at petrol pumps

Abhimanyu Chakravorty November 19, 20166:36 pm

Abhimanyu Chakravorty November 19, 20166:33 pm

Uttar Pradesh: Senior citizens queue up outside banks in Varanasi to exchange/withdraw cash

Abhimanyu Chakravorty November 19, 20164:53 pm

Rajnath Singh today hailed the demonetisation move and said this will bring probity in political and administrative works besides reducing the gap between rich and poor.

Abhimanyu Chakravorty November 19, 20164:44 pm

Cong never formed SIT during their Govt, whereas first step taken by our govt is to form a SIT & curb black money: Nirmala Sitharaman

Abhimanyu Chakravorty November 19, 20164:44 pm

If government wasn’t ready then how did new Rs2000/500 notes come to market?: Nirmala Sitharaman

Abhimanyu Chakravorty November 19, 20164:44 pm

PM Modi is trying his level best to eradicate black money, but despite all his efforts Cong is opposing every step taken: Nirmala Sitharaman

Sajin Saju November 19, 20162:45 pm

According to reports, SBI is letting people swipe the ATM cards and handing over cash in return in Uttarakhand. This is being done only for those who hold SBI cards.

Sajin Saju November 19, 201612:57 pm

Abhijit withdrew cash from the mobile ATM installed at Noida sector 18.

Sajin Saju November 19, 201612:47 pm

With banks running out of cash, mobile ATMs are the only hope. People queue up outside this ATM at Noida sector 18.

Sajin Saju November 19, 201610:48 am

Meanwhile, people in Madhya Pradesh are withdrawing money from Micro ATMs installed in the state capital.

Sajin Saju November 19, 201610:27 am
Sajin Saju November 19, 201610:10 am
Sajin Saju November 19, 201610:00 am
Sajin Saju November 19, 20169:56 am

Demonetisation: People desperately waiting for an ATM to open in Mumbai’s Wadala locality. The banks across the country will only allow senior citizens to exchange scrapped Rs 500 and Rs 1,000 notes on Saturday as they will primarily cater to their own customers.