It was a manic rush outside most banks across the country on Thursday. People were seen waiting outside many banks as early as 6 a.m. to exchange their now-defunct Rs. 500 and Rs. 1,000 rupee notes.
The government demonitised the two currency notes as a part of its efforts to reduce the spread of black money, fake currency and terror financing.
There are about 149 scheduled commercial banks, including 56 regional rural banks, with a branch network of about 1.30 lakh across the country. Besides, the co-operative banks have also been asked to take deposit and exchange the old notes with new ones.
It may be noted that ATMs are not open today also.
In a related development, the Supreme Court has refused to give an urgent hearing to a petition to quash the November 8 government notification demonetising the notes.
Meanwhile, you can also share with us how you are dealing with exchanging money, bank overcrowding and purchasing things from vendors . You can write them down here: Getting your hands on new Rs 500 and Rs 2000 notes
Source:The Hindu
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