Heavy rush at banks-People line up in long queues to exchange Rs 500-1000 notes

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Heavy rush at banks – As expected there is a heavy rush at banks all across the nation, this morning. People have lined up in long queues even before the banks opened. After the Prime Minister announced the scrapping of 500-1000 rupee notes, people cannot wait to get rid of banished notes. They want to exchange them for the new currency as soon as possible.

People can be seen standing in long queues waiting for several hours at places such as Karol Bagh, Connaught Place etc.

People waiting outside HDFC bank in Connaught Place.

Earlier RBI has announced that people can exchange their old notes for the new notes of 500 and 2000 from 10th of November. Banks have taken various steps to tackle the heavy rush in banks. However, banks have said that you could have to wait for a little to complete the process.

Banks are seeking more manpower to make the currency exchange process as smooth as possible.Banks such as HDFC and SBI are looking for the help of retired bankers to tackle the expected heavy rush in banks.

Reserve Bank of India has directed all the banks to remain open even during the weekend to draw out about 13 lakh crore of demonetised notes by December. Also, banks have decided to extend their working hours. Some banks have opened as early as 8:00 am in the morning and are ready to stay till 7:00 pm in the evening. Bankers have been asked not to take any leaves till 30th December.

Police have taken necessary steps to maintain proper law and order.

Delhi police have taken special measures to ensure that proper law and order is maintained during the process.Over 3000 paramilitary and, quick reaction teams and policemen are deployed in Delhi for security in banks.

Despite all the measures, this heavy rush at banks has caused a huge problem for people. People have to wait for several hours without food or water outside banks. In many places, there are reports of small conflicts between people over the exchange of money.

People waiting in long queues outside banks since early morning.

It is not just the heavy rush at banks which is the problem. There were heavy traffic jams and long queues outside the banks in all major cities and even in small towns. People have been waiting outside banks since early morning. As soon as the banks opened, people rushed inside the bank as if it is a race. Everyone wants to be the first one to exchange their money. This has created a situation of chaos in the banks. Bank officials and security personnel are trying their best to minimize the chaos.

Fifty-year-old Sarita Devi told until Khabar that she is waiting outside the bank since 7 am in the morning. She told that she had no more money at home. She came early so that she can purchase ration for lunch. She hasn’t eaten anything since morning.

People waiting to complete the formalities inside the bank

Another customer, Mr. Rahul Saxsena told that he came to the bank at 9 am. He has been running from one counter to another to fill forms and other formalities. The bank officials are cooperating with them but the process is too long and taking much time.

There are many people who have only old notes of 500 and 1000 left with them. They are not able to buy basic necessities such as food with old notes. They are desperate to get the new currency so that they can feed their children and other family members at home.

A person showing new Rs 2000 note issued by RBI.

A person showing new Rs 2000 note issued by RBI.

Many banks are issuing new currency notes of Rs 500 and Rs 2000 in exchange of old notes. However, there are still many banks who don’t have new notes yet. They are giving small denomination notes to the customers.

Small vendors and rickshaw wala’s are suffering the most. They are facing difficulty in filling the forms and completing the required procedure. Another problem is that people can’t withdraw more than Rs 10,000 from their account per day and Rs 20,000 per week. People without bank accounts can exchange up to a maximum of Rs 4000.

Two days ago Prime Minister had rocked the nation by scrapping the 500 and 1000 rupee notes in an effort to curb black money and fake currency racket.

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