Demonetising currencies results in massive traffic jam at Gurgaon toll plaza

Thousands of commuters and office goers were stranded in a massive traffic jam at the Gurgaon Delhi Expressway on Wednesday, hours after the Centre stopped circulation of Rs 500 and Rs 1,000 currency notes.

"After the news about Rs 500 and 1000 came, it has really affected us a lot. The commuters are giving us Rs. 500, but are not ready to accept it. This is the main reason for the chaos and arguments with people. We are facing a lot of difficulty," said Public Relations Officer Skylark toll company Kirpal Singh.

"Eighty percent of the commuters have given us Rs. 1000 and are not ready to accept Rs. 500 in return," Singh added.

The chaos started on Tuesday night soon after Prime Minister Narendra Modi announced the demonetisation of Rs 500 and 1000 currency notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption.

"I have been stuck in traffic for more than half an hour and now it is a sigh of relief, when the toll been made free," said a office goer T.D. Singh.

"I am stuck in traffic for more than an hour. And making toll free gave us happiness," said another commuter.

In his televised address to the nation, the Prime Minister yesterday said that people holding notes of Rs 500 and Rs 1000 can deposit the same in their bank and post office accounts from November 10 till December 30.

Following the announcement, there were huge crowds outside ATMs across the country as people lined up to withdraw currency of smaller denominations.

\He also announced that new notes of Rs 2000 and Rs 500 will be introduced.

ATM withdrawals will be restricted to Rs 2000 per day and withdrawals from bank accounts will be limited to Rs 10,000 a day and Rs 20,000 a week.

Besides depositing money in bank accounts, the Rs 500 and Rs 1000 notes can also be exchanged with lower denomination currency notes at designated banks and post offices on production of valid government identity cards like PAN, Aadhaar and Election Card from November 10 to November 24 with a daily limit of Rs 4000.

Those unable to deposit Rs 1000 and Rs 500 notes till December 30 this year can do so in designated RBI offices till March 31 next year after filling a declaration form along with proof and reasons, the Prime Minister said.