This weekend, banks will be open Saturday but closed Sunday

Last weekend, banks across the country were working on both days of weekend to deal with large amounts of public that wanted to exchange their old notes

The weekend after Prime Minister Narendra Modi's demonetisation announcement, banks were asked to remain open on both Saturday (Nov 13) and Sunday (Nov 14).

However, this weekend the banks will be operating as usual on Saturday but they shall remain shut on Sunday. 

Earlier today, a Supreme Court bench comprising Chief Justice T S Thakur and Justice A R Dave told attorney general Mukul Rohatgi that long queues outside banks  is a ‘serious issue’.

“Some measures are required. See the kind of problems people are facing. People have to go to the high court. If we shut them from going to the high court, how can we know the magnitude of the problem. People going to different courts indicates the magnitude of the problem,” the bench said.

 

The concerns about availability of cash remains an issue with reports  saying that the number of people queuing outside ATMs and banks is increasing by the day, the government’s currency presses could find themselves overstretched to print more money. At full steam, it will take another 108 days to replace old notes, as reported by Business Standard.

READ OUR FULL COVERAGE ON THE MODI GOVT'S DEMONETISATION MOVE