November 10, 2016 17:14 IST

Rs 500, Rs 1000 exchange: Long queues seen outside banks, ATMs

1 of 5 Rs 500, Rs 1000 exchange,Note exchange,Long queues seen outside banks,Long queues seen outside ATMs,Rs 500 and Rs 1,000,currency notes
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.
2 of 5 Rs 500, Rs 1000 exchange,Note exchange,Long queues seen outside banks,Long queues seen outside ATMs,Rs 500 and Rs 1,000,currency notes
Thousands of people flocked to banks on Thursday for exchange or deposit of monetised currency notes of Rs 500 and Rs 1,000.
3 of 5 Rs 500, Rs 1000 exchange,Note exchange,Long queues seen outside banks,Long queues seen outside ATMs,Rs 500 and Rs 1,000,currency notes
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.
4 of 5 Rs 500, Rs 1000 exchange,Note exchange,Long queues seen outside banks,Long queues seen outside ATMs,Rs 500 and Rs 1,000,currency notes
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.
5 of 5 Rs 500, Rs 1000 exchange,Note exchange,Long queues seen outside banks,Long queues seen outside ATMs,Rs 500 and Rs 1,000,currency notes
The customers received the new note with curiosity but the problems remained in the market with severe shortage of change since Wednesday.