Bhubaneswar, Nov 10: Today all banks across the nation will be supplying the new Rs 500 and Rs 2000 currency notes which would be utilized as legal tender from now on against the old currency notes of Rs 500 and Rs 1000. Customers having the old notes as cash in hand would have to exchange those at the banks with the new ones either at banks or post offices even across the nation.
Earlier stated, as per the laid down norms customers could exchange the old currencies in banks or post offices only till a limit of Rs 4000 per person and an identity proof be it the Aadhaar card or the Pan card along with an exchange slip duly filled in by the customer would be mandatory to carry out the exchange transaction till Dec 30. Also all the ATMs will start operating from Nov 11, yesterday onwards, and each person would be able to withdraw money only to a specified limit of Rs 2000 per day thus making it to an aggregate limit of Rs 20,000 per week. Post few days, the ATMs limit will increase to Rs 4000 per day per person. In a similar way, each customer will be able to withdraw till Rs 10,000 per day through their respective bank accounts thus making thus bank limit to an aggregate of Rs 20,000 per week. There would be no limit in depositing the notes of Rs 500 and Rs 1000 by each customer in their bank accounts but if the deposit limits would exceed Rs 2.5 lakh then one would have to show his or her source of income.
However, long queues are being witnessed at all banks especially in Government run banks here related to the exchange policy. People have been standing since 8am in the morning. Customers who have normally come to withdraw money are also facing difficulty as they also need to wait and stand in the queue.
Benudhar Mishra, who exchanged his old notes today said “I have been standing in line from around 8:30 am. However I have exchanged Rs 7,000 today. As the banks are only allowing to withdraw money till Rs 2000, hence I have withdrawn Rs 2000 only and they have provided me the cash having denominators of Rs 100 only.
A Bank official said that after few days they will allow customers to withdraw till Rs 4000. They also informed that new currency notes have been arrived at all banks and in a few days the situation will get normal”.
Mir Sayeeduddin, who had gone to Andhra Bank to withdraw money from his account as all ATMs are closed today said that he has been standing here from an hour long and still his turn is yet to come. if such a situation continues, it may lead to clashes between customers so the banks need to fasten their seat belts and transact quickly.
Notably, on Tuesday midnight the country said goodbye to the old currency notes of Rs 500 and Rs 1000, in support of the PM’s endeavor to end corruption in the country and also eradicate all the black money coming from unknown sources of income.
