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
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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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  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
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      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
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          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
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              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
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                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
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