Banks to work normal hours tomorrow, but only senior citizens can exchange old notes

No note exchange will take place other than that for senior citizens.

By: Express Web Desk | New Delhi | Updated: November 18, 2016 9:53 pm
Banks, Banks open on saturday, Banks open tomorrow, Banks working hours saturday, demonetisation, is bank open tomorrow, is bank open on saturday, demonetisation banks, old currency notes, black money, ATM queues, ATM, banks, bank queues, corruption, PM Modi announcement, Modi, PM Modi, India news, latest news, indian express Demonetisation: IBA chairman Rajiv Rishi stated that ever since demonetisation was announced, all banks have been working for extended hours including holidays to ensure the public at large was not inconvenienced.

Banks across the country will remain open on Saturday and follow normal working hours to complete pending work, but only senior citizens will be able to exchange notes at bank branches, said Rajiv Rishi, Chairman Indian Banks’ Association (IBA) to news agency ANI. No note exchange will take place other than that for senior citizens. Besides, all other services at banks will be operational, added Rishi. He also said that with the use of indelible ink, queuing had substantially reduced. “We have taken a view that on Saturday, the banks shall not be doing exchange over the counter of 2000 rupees. We will make an exception for senior citizens. But tomorrow we will spend trying to update our works and do the works in relation to our own customers,” Rishi added.

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Speaking to ANI, Rishi stated that ever since demonetisation was announced, all banks have been working for extended hours including holidays to ensure the public at large was not inconvenienced. “In fact, we have diverted all human resource to make sure that all those who stood in queues got their money exchanged, deposited and withdrawn. In the process what we have felt is that in the last one week our own customers have actually suffered. Routine works are not done and routine works are pending in banking activities,” he said.

Ever since the government on November 8 announced the decision to scrap currency notes of Rs 500 and Rs 1000, long queues outside banks and ATMs have been a common sight. 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.

Also Read: Misuse of bank account for black money deposit to invite govt action

The deaths have grabbed the attention of Opposition parties who have continuously attacked the Modi government on its decision to demonetise the high denomination currency notes.

On Friday, following Finance Minister Arun Jaitley’s comments regarding rolling back demonetisation, Delhi Chief Minister Arvind Kejriwal said the decision taken by a government that has “lost connect” with people smacked of “insensitivity”. The Delhi Chief Minister and his Bengal counterpart Mamata Banerjee had on Thursday demanded that demonetisation of Rs 500 and Rs 1,000 notes be rolled back within the next three days.

Also Read: Centre’s decision on demonetisation smacks of insensitivity: Arvind Kejriwal

Meanwhile, speaking on the issue of long queuing outside banks and ATMs, the Supreme Court on Friday dubbed it as a “serious issue” and expressed its reservation on the Centre’s plea seeking a direction that no other court in the country should entertain petitions challenging the November 8 notification demonetising Rs 1,000 and Rs 500 currency notes.

(With ANI inputs)

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  1. A
    Abhinav Gour
    Nov 18, 2016 at 3:15 pm
    Great move indeed so great move
    Reply
    1. S
      Satendra kumar
      Nov 18, 2016 at 9:09 pm
      All the states and union territory has acknowledged it's time to get rid of corrupt practices of day to day business activities Implementating new concept and method is very important for all Indians.New procedures and standard are required.
      Reply
      1. M
        MyTake
        Nov 18, 2016 at 7:35 pm
        Give a Govt. approved App to be used by smart phones. People wanting to deposit money should be able to filllt;br/gt;up then upload and then:lt;br/gt;1. Wait for their time to be called in without losing time in the que.lt;br/gt;2. If they don't have a debit card mail one to their address or ask them to collect it from the nearest Bank.lt;br/gt;lt;br/gt;This will definitely ease the burden. The same method of using an app can later be used for casting votes on line.
        Reply
        1. M
          MyTake
          Nov 18, 2016 at 7:40 pm
          This method of stamping out corruption will go into the text books in universities and many nations will emulate this in future. This great Indian Experience will be verly useful for the humanity in general!lt;br/gt;lt;br/gt;AK, Mamata, Rahul along with players in the HOPO-sition will not even find a place in the footnote of this great experiment!
          Reply
          1. M
            MyTake
            Nov 18, 2016 at 7:00 pm
            Those who do not have phones, give them phones at subsidised rates and encourage them to use PayTM. with opening of an account for missing ones! Parallel efforts should be made here for those who want to avail this opportunity. Businesses should come forward to make an offer to the Govt. how they can make their contribution here for the que-wallas! Win win for all: win for people, win for Govt. and win for businesses!lt;br/gt;lt;br/gt;Only loser will be the Indian opposition!
            Reply
            1. M
              MyTake
              Nov 18, 2016 at 6:53 pm
              Why can't the bank just receive the money and issue debit card instead of giving cash? ID collected from the form can be used to open accounts in their name (for those who still don't have it). Money should be available in the accounts overnight as the money collected will have to be deposited in somewhere!lt;br/gt;lt;br/gt;Once account opened that can help track if they are making multiple trips to multiple banks with unjustified amount of money even though 2.5 lakh limit is free!lt;br/gt;lt;br/gt;Eventually all accounts in different banks should be linked through tax collection authorities to make things more transparent!
              Reply
              1. A
                Akhlesh Mathur
                Nov 18, 2016 at 4:06 pm
                Excellent move ....surprise and change is good
                Reply
                1. A
                  atul
                  Nov 18, 2016 at 3:44 pm
                  U too r Gupt Rooge like baba and modi. Feku is impotent whos has left his wife. do his surgery first and ask him to get back his wife. Kill Amit Shah and Mohan Bhagwat at Chandni chowk becoz they m killers, sitting inside their Ac rooms and formulating for poor indians who dying in outside the bank for 9 days.. say Loudly Bharat mata and Pita ke jayee
                  Reply
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