No rush to change Rs 2000 note on first day, small queues at some bank branches. No rush to exchange Rs 2000 notes on first day, short queues at some bank branches

2000 rupee note - India TV Paisa
Photo: PTI 2000 rupee note

some bank branches Small queues were seen on Tuesday, the first day of exchange of Rs 2,000 notes with notes of smaller denominations. When bank branches opened in the morning, there was no rush to exchange notes. Branches of private sector banks in metros traded normally. A senior official of a public sector bank said that there is not much rush as of now as there is four months to exchange the notes and the Rs 2,000 currency is relatively less in circulation. Unlike the last demonetisation in 2016, this time Rs 2,000 notes remain legal tender.

it will remain legal tender

The official said the branches are not overcrowded as of now and deposits are being accepted as per extant guidelines. Meanwhile, the RBI has advised banks to arrange ‘shades’ to protect people from sunlight when they come to exchange or deposit Rs 2,000 notes. Along with this, drinking water should also be arranged for the people in the queue. It is worth mentioning that during the demonetisation in 2016, there were queues in the banks to change the notes and it is alleged that many customers had also died during this period. It will continue to be legal tender despite the announcement of the withdrawal of Rs 2,000 notes on Friday.

Asked to keep details of notes

This was not the case after the announcement of demonetisation in 2016. In a notification issued on Monday, the Reserve Bank said, “Banks have been advised to make arrangements for sheds and water for customers waiting in their branches.” Banks have been asked to make note exchange facility available over the counter in the usual manner. Apart from this, banks have been asked to maintain details of Rs 2,000 notes deposited and exchanged daily.

Latest Business News


Read More

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *