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If no shortage, why are banks not exchanging old notes, asks Chidambaram

The Union govt had on November 8 spiked 500 and 1,000 rupee notes

IANS  |  New Delhi 

P Chidambaram
P Chidambaram

Attacking the Centre over demonetisation, senior Congress leader and former Finance minister on Saturday questioned why banks were not exchanging old currency notes if there was no shortage of new notes and those of Rs 100 denomination.

"If the learned AG (Attorney General Mukul Rohatgi) is correct that there is no shortage of currency, why are banks not exchanging notes today (Saturday)?" Chidambaram tweeted.

The Congress leader's remarks came a day after Rohatgi told the Supreme Court that two lakh automated teller machines, 1.25 lakh bank branches and petrol pumps were functioning, from where people could get money.

The Narendra Modi government had on November 8 spiked 500 and 1,000 rupee notes to, what it said, curb black money and corruption.

Chidambaram asked in another tweet: "Why are we not allowed to withdraw our money from our bank/savings accounts?"

"Why are thousands of ATMs still not working?" he added.

After the demonetisation, long queues have been witnessed across the country outside banks and ATMs to exchange old notes or withdraw currency.

First Published: Sat, November 19 2016. 16:40 IST