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Long queues seen in front of banks to exchange scrapped notes
Even before they could open the gates this morning after a day's closure, large queues were seen in front of almost all banks across Tamil Nadu, as people made a beeline to exchange the scrapped Rs 500 and Rs 1,000 currencies.
By
migrator
migrator
Chennai
Though the bank officials, in association with the city police, had put in place elaborate arrangements, confusion prevailed in some parts.
The closure of ATM for two days added up to the anxiety as milling crowds thronged the banks to get the notes exchanged after providing proof of their identity like Aadhar, Voter ID or PAN cards.
All necessary arrangements were made to ensure hassle-free transactions. Tokens were issued to the customers and exchange forms distributed to enable the customers to exchange the demonetised currencies.
The customers were also given the option of depositing the old currencies in their account.
For the benefit of customers, many banks have opened additional counters.Â
At the RBI's Chennai branch near Parry's Corner, eight counters were opened.Â
Barricades were placed in front of banks to control the crowd. Police personnel were posted in banks for security purposes and they were also seen guiding the customers.Â
While some banks issued both the new currencies underRs 500 and Rs 2,000 denomination, in some of the banks Rs 500 currencies had not reached them.
Several banks ran out of cash and asked the customers to come and exchange the scrapped notes tomorrow.
Even there was a cap on withdrawals using cheques or withdrawal forms, in some cash strapped banks.
Though the RBI has allowed withdrawals upto Rs 10,000 per day, in some branches this was adhered to.
But due to surge in crowd and cash crunch, the customers were advised to restrict their withdrawals to Rs 2,500 (Rs 2,000 new currency and balance in five hundred rupee notes).Â
While people complained about the restriction on withdrawal of money, those who got the new Rs 2000 were excited and took pictures with the money and posted it on their social media page.
Since the Central government has announced that the scrapped currencies could be exchanged in post offices, last queues were seen in front of those buildings.
In some places, the money has not reached in time resulting in delay.
In some post offices, the customers were asked to come in the afternoon to get the notes exchanged.Â
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