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Thousands of people flocked to banks on Thursday for exchange or deposit of monetised currency notes of Rs 500 and Rs 1,000.
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Though it was announced that the banks will open at 8 a.m., the transactions started only at 9 a.m. While some banks like ICICI opened the doors for public at 9 a.m., many public sector banks had not opened even at 10 a.m.
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The exchange limit was for Rs 4,000. The bank officials were giving a new note of Rs 2000 and 20 notes of Rs 100. They said the bank had not received new notes of Rs 500.
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The customers received the new note with curiosity but the problems remained in the market with severe shortage of change since Wednesday.
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Though there was no limit on deposit, for big amounts the banks were insisting on PAN number. Those drawing Rs 10,000 from their bank accounts were also asked to produce their identity proof.