New currency notes in ATMs from Friday: Government

The new hard-to-fake Rs 500 and Rs 2,000 currency notes will be available at bank ATMs when they start operating again from Friday, said Finance Secretary Ashok Lavasa.

By: PTI | New Delhi | Updated: November 10, 2016 12:14 pm
500 1000 rupee ban, 500 rupee ban, 1000 rupee ban, India news currency, India notes, 500 rupee notes, Rs 500, Rs 1000, news, latest news, India news, national news This is the new Rs 2000 note

The new hard-to-fake Rs 500 and Rs 2,000 currency notes will be available at bank ATMs when they start operating again from Friday, Finance Secretary Ashok Lavasa said on Wednesday.

WATCH: Serpentine Queues Outside Banks To Exchange Rs 500, Rs 1,000 Notes

“There are going to be some difficulties which they (people) will face but for their convenience, a number of steps have been taken by the government, there are facilities to withdraw money from ATM and exchange currency at banks, withdraw money from accounts,” he said on government withdrawing Rs 500 and Rs 1,000 notes from circulation to crack down on black money and counterfeit currency. People, he said, do understand the objective behind the move. “And I’m sure they will cooperate in dealing with the difficulties and inconvenience that they might face. And eventually things will settle down.”

Lavasa said people need money for transaction so for replacement that currency is being introduced.

“RBI will very strictly monitor it,” he said. “For doing any transaction there are different ways, government’s intention is to move towards cash less transaction.” The ATMs will open on Friday and at many places they will open on Thursday, he said adding new notes will be available at ATMs. Asked about the slump in stock market indices, he said, the “The market would have reacted to several other developments. Let’s wait and watch how things pan out.”

WATCH VIDEO: Rs 500 & Rs 1000 Illegal: Scuffle At An ATM With People Queuing Up To Withdraw Money

“If there is anything required to be done by them I am sure they will take a look and take appropriate decision at the right time,” he said on market regulator Sebi looking into the crash.

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First Published on: November 9, 2016 11:50 am
  1. K
    Krish Nair
    Nov 12, 2016 at 11:09 pm
    This is the best thing that has happened to the economy. There was a bit of panic for a couple of days. But that has settled. But the usual rumour mongering will go on. I got several ridiculous messages saying that salt is not available and that a wedding was cancelled in the U.P. So, I wonder, is it such an earth shaking development if salt is not available in some shops. This is irresponsible and malicious behaviour started by some anti-social people. Ignore them. lt;br/gt;Yesterday, I was going past the Vijaya Bank situated on the 80 feet road on Indiranagar in Bangalore at 4.30 pm. I glanced at the Bank and I saw the staff coming out, laughing and joking. Later I telephoned a friend who works there and he says that there was only a thin crowd there and everyone got their work (exchanging Rs 4000 of the old notes for the new and depositing/withdrawing new tender. To my surprise, he even said that some people were given their amount in hundred rupee notes. So there is enough change in the market and it will circulate.lt;br/gt;Let us isolate whose past-time is rumour mongering!
    Reply
    1. A
      alam
      Nov 9, 2016 at 8:57 am
      REALLY AMAZING FROM A VIEWER,lt;br/gt;lt;br/gt;"KYA SWISS BANK MEIN INDIAN CURRENCY JAMA KIYE THEY INDIA KE AMEER LOG JIS KO WAPIS LAANE KA ELECTION MANIFESTO MEIN LIKHA THA AUR SAB KE KHATE MEIN 15-15 LAAKH AANE WALE THEY.
      Reply
      1. R
        Rajesh
        Nov 9, 2016 at 9:58 am
        Sickularist and Terrorists would be in pain and we have not sympathy with them. May GOD bless poor citizens of India and give blessing to government to do such good jobs. Thumbs up Modi
        Reply
        1. A
          Arun
          Nov 9, 2016 at 11:19 am
          No doubt it will have teething problem initially.But when system runs smoothly, there would be sea change in Indian Economy. However corrupt Politicians/Bureaucrats will try to sabotage this change by instigating Aam Aadmi to oppose the move of Modi Govt.It is suprise to see Arvind Kejriwal is keeping quite when such good step taken by Modi Govt.It shows he has nothing to say except oppose Modi Govt like Rahul hi.
          Reply
          1. A
            ashok s
            Nov 9, 2016 at 10:47 am
            Muslim selling mobiles ,bikes are having great business. I wonder the equation how they will convert this big black money. They are harment for Hindus living peacefully in Mira road. I don't know when official will act against this menance in every form. Dance bars, drugs, illegal call centres. Bike dealers. Mr pm please act
            Reply
            1. A
              ashok s
              Nov 9, 2016 at 12:19 pm
              Nissar ,khan, Ner and gang operating to change your currency pls contact them . even Mira road police is helpful to them. Contact sondhe at ....
              Reply
              1. A
                ashok s
                Nov 9, 2016 at 10:59 am
                Ostwal builders in Mira bhayander are still collecting old notes ,securing customers that business is as usual, black money is their concern ,so come in you are in festive season. A concern of Mira road
                Reply
                1. A
                  ashok s
                  Nov 9, 2016 at 10:49 am
                  Police is hand with glow with this bind Muslim extornist . I can give examples also. God save Mira road
                  Reply
                  1. D
                    DD
                    Nov 10, 2016 at 8:57 pm
                    Bhad me Ja
                    Reply
                    1. A
                      ASHOK KUMAR
                      Nov 9, 2016 at 10:08 am
                      It is high time that photograph of Mahatma hi on currency notes should be replaced with that of Deen Dayal Upadhyaya and Mohan Bhagwat.
                      Reply
                      1. J
                        Jagdish Saigal
                        Nov 9, 2016 at 9:38 am
                        It is greater beneficial act than even GST.
                        Reply
                        1. P
                          Prem Kumar
                          Nov 9, 2016 at 9:08 am
                          This must be a good decision by the RBI
                          Reply
                          1. K
                            kr
                            Nov 13, 2016 at 5:16 am
                            DEAR MR. SRI MODI PM, I APPRECIATE YOUR HONEST AND BOLD DECISION
                            Reply
                            1. K
                              kr
                              Nov 13, 2016 at 5:05 am
                              First of all my sincere thanks to Great Mr. Modi PM and his team.lt;br/gt;lt;br/gt;Like this new policies has to come against corruption and to remove black money.lt;br/gt;lt;br/gt;Come on India ! The culprits who have black money should punished severely and those names to brought to the nation.lt;br/gt;lt;br/gt;Govt has to take actions on Media-If they give any false information
                              Reply
                              1. L
                                L bhadrapati Devi
                                Nov 9, 2016 at 11:23 am
                                Even Rs 500 and Rs 1000 are demonetized, no need for panicky situation for law abiding citizens. Your money can be accepted by retailers and hotels because the retailers and hotels can deposit the old currencies in the bank accounts. What is the harm to accept the demonetized currencies?
                                Reply
                                1. L
                                  L bhadrapati Devi
                                  Nov 9, 2016 at 11:18 am
                                  I even advise my family to accept rs 500 and Rs 1000 currency notes as help to regular customers. No need for panicky situation.
                                  Reply
                                  1. M
                                    mathimathi
                                    Nov 9, 2016 at 2:33 pm
                                    good one. khaki knickers under old khaki shorts. ha ha ha ha
                                    Reply
                                    1. M
                                      mathimathi
                                      Nov 9, 2016 at 2:16 pm
                                      let us trust. Is no more counterfeit notes in ATMS for feku bhaktas and public for some more period?
                                      Reply
                                      1. M
                                        Mayur Panghaal
                                        Nov 9, 2016 at 11:15 am
                                        ha ha ha.........good one.
                                        Reply
                                        1. M
                                          Mayur Panghaal
                                          Nov 9, 2016 at 8:13 am
                                          Now I know why Raghuram Rajan had had enough of this feku b of economics
                                          Reply
                                          1. M
                                            Mayur Panghaal
                                            Nov 9, 2016 at 7:43 am
                                            People think that this will stop black money from being used in elections .lt;br/gt;Dead wrong !!lt;br/gt;Not many know that after being convicted by HC and SC for taking foreign funds, Cong bjp were to be banned as political parties.But they got together and changed the FCRA law ... and now its legal for political parties in India to take foreign 'donations'.lt;br/gt;In one stroke..feku and cong made India an official banana republic.lt;br/gt;Nowhere in the world is it legal for political parties totake foreign money...Not even in the official Banana republics of Africa !!!lt;br/gt;-----'''''lt;br/gt;But will u hear this on any news channel ? lt;br/gt;No.lt;br/gt;Cause if you dolt;br/gt;...they will be banned next.
                                            Reply
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