People Throng Banks To Exchange Rs. 500, Rs. 1,000 Notes

New Delhi, 10 Shafar 1438/10 November 2016 (MINA) – 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 the now defunct Rs. 500 and Rs. 1,000 notes and withdraw money. The Hindu was quoted by MINA as reporting.

The government demonitised the two currency as 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. More….

In Chennai, capital of Tamil Nadu State, long queues were seen outside banks in many localities of the city.

The Hindu reporter Sunita Sekar says only a few people were allowed inside the bank at a time and heavy security has been deployed outside many of the banks in the locality.

Chennai Police Commissioner S. George held a meeting with senior police officers and discussed about bandobust arrangements for the smooth exchange of cash at various banks and post offices, a police release said.

Meanwhile, as many 3,400 personnel of paramilitary and Delhi Police, along with quick reaction teams, were deployed across the national capital.

The Home Ministry has kept about 1000 personnel at standby for immediate deployment in case of any emergency, official sources said. About 200 quick reaction teams are positioned in various parts of the city, sources said. (T/P001/R04)

Mi’raj Islamic News Agency (MINA)