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Banks open this Saturday, Sunday
Having swept away 86 per cent of total currency by banning Rs 500/1000 notes, the Central government on Wednesday sought to assuage any panic in public, saying banks and post offices will start giving out replacement currencies from Thursday even as it expanded scope of exempt public utilities.
​New Delhi: Having swept away 86 per cent of total currency by banning Rs 500/1000 notes, the Central government on Wednesday sought to assuage any panic in public, saying banks and post offices will start giving out replacement currencies from Thursday even as it expanded scope of exempt public utilities.
It also ordered banks to remain open for full day this Saturday and Sunday to deal with rush of people wanting to deposit the defunct currency bills, according to Union Finance Minister Arun Jaitley.
Besides, it expanded the list of areas where the withdrawn notes will be accepted till November 11 midnight. They include payments for metro rail tickets, highway and road toll, purchase of medicines on doctor prescription from government and private pharmacies, LPG gas cylinders, railway catering and ASI monuments entry tickets.
Banks and ATMs were shut on Wednesday to remove old Rs 500/1000 notes and stock them with lower denomination and new hard-to- fake Rs 500 and Rs 2,000 currency notes.
Banks will open on Thursday as RBI has sent truckloads of new notes throughout the country, while ATMs will begin dispensing cash only from Friday.
Withdrawal limitations - Rs 2,000 a day from ATM per card and Rs 10,000 through bank account on a day and Rs 20,000 in a week, will continue for some time, Jaitley added.
ATM charges waived
Mumbai: Fearing a jump in footfalls to deposit or withdraw cash following the demonetisation of Rs 500 and 1,000 banknotes, lenders announced a slew of measures, including extension of banking hours, doing away with ATM charges and expanding credit limits.
For public convenience, banks will remain open on coming Saturday and Sunday, Economic Affairs Secretary Shaktikanta Das tweeted.
