Long queues on 1st day of note swap, ATMs to reopen tomorrow

There were unending queues at banks that opened today to exchange and collect invalid notes of Rs 500 and Rs 1,000 across the country, with some branches running out of cash.

Since morning, people thronged the bank branches, which opened after a day's break to replace demonetised currency notes with newly-introduced high-security Rs 2,000 and lower value currency notes up to a daily limit of Rs 4,000.

Although promised, the new Rs 500 notes were not put into circulation in the national capital.

But those who got the magenta-coloured new Rs 2,000 notes with a Mangalyaan imprint on the reverse felt elated and posted their picture along with the currency on social media.
 

Many went a step further and got their currency exchanged from 2-3 different branches during the first day itself as there are no restrictions on number of times one can exchange notes.

Exchange facility is also available at post offices and various outlets of RBI.

Due to huge demand, many branches had to seek replenishment of cash from chest during the day and in some parts where reinforcement could not be reached, the bank had to turn away customers.

Besides, post offices and regional offices of Reserve Bank also replaced currency notes.

In order to avert any law and order issue, security personnel were deployed at 1.3 lakh branches across the country.

With opening of 1.25 lakh ATMs across the country tomorrow, the rush at the bank branches is expected to ease.

Finance Minister Arun Jaitley said the "crowd (is) as per our expectations" and control rooms are working round the clock. He further said banks are handling the situation and there is no need to panic.

"You have a long period of time to exchange the money. Deposit the money in your bank and then withdraw through cheque, debit card and I think banks will be able to adequately handle it," he said.

According to an ICICI Bank official, there were smooth transactions at their branches across the country and some ATMs may start functioning from tonight itself.