RBI urges people not to panic as crowds lose cool waiting outside banks, ATMs for new banknotes
Advertisement
Hundreds of people queued up outside ATMs and banks to exchange and withdraw banknotes.
People thronged post offices, banks in huge numbers and even lost their cool after banks, reportedly, complained of less cash.
In this backdrop, theReserve Bank of India (RBI ) issued a statement, asking people to remain calm.
“There is enough cash available with banks and all arrangements have been made to reach the currency notes all over the country. It may take a while for the banks to recalibrate their ATMs; once the ATMs are functional, members of public will be able to withdraw from ATMs upto a maximum of ₹ 2,000 per card per day up to November 18; and after that withdraw up to ₹4000 per day per card,” RBI stated.
The facility for exchanging the withdrawn denominations of ₹ 500 and ₹ 1000 is available for nearly 50 days.
“The Reserve Bank appeals to members of public to be patient and urges them to exchange their old notes at their convenience, any time before December 30, 2016,” the statement read.
(Image: Reuters)
Advertisement
People thronged post offices, banks in huge numbers and even lost their cool after banks, reportedly, complained of less cash.
In this backdrop, the
“There is enough cash available with banks and all arrangements have been made to reach the currency notes all over the country. It may take a while for the banks to recalibrate their ATMs; once the ATMs are functional, members of public will be able to withdraw from ATMs upto a maximum of ₹ 2,000 per card per day up to November 18; and after that withdraw up to ₹4000 per day per card,” RBI stated.
The facility for exchanging the withdrawn denominations of ₹ 500 and ₹ 1000 is available for nearly 50 days.
Advertisement
(Image: Reuters)
Advertisement
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near
- Axis Bank posts net profit of ₹7,129 cr in March quarter
- 7 Best tourist places to visit in Rishikesh in 2024
- From underdog to Bill Gates-sponsored superfood: Have millets finally managed to make a comeback?
- 7 Things to do on your next trip to Rishikesh