Top

Queues have shortened at many bank branches in UP

Sakshi Chaturvedi

Sakshi ChaturvediBy Sakshi Chaturvedi

Published on 17 Nov 2016 11:22 AM GMT

Queues have shortened at many bank branches in UP
X
  • Facebook
  • Twitter
  • Whatsapp
  • Telegram
  • Linkedin
  • Print
  • Facebook
  • Twitter
  • Whatsapp
  • Telegram
  • Linkedin
  • Print
  • Facebook
  • Twitter
  • Whatsapp
  • Telegram
  • Linkedin
  • Print

Lucknow: The use of indelible mark for exchange of notes and improvement in supply of currency notes to the banks have partly reduced the crisis faced by customers in some parts of the state capital on Thursday, nearly a week after demonetisation of high value notes by the government.

The serpentine queues which were seen before all the bank branches were not witnessed in some of them. Withdrawal or exchange of notes in these branches were much easier.

The restriction on exchange and lower limit of withdrawal to be effective from Friday may help the customers further.

Queues were longer also because customers were using different identities for money exchanges. If one day a customer used pan card for the purpose, the next time he used driving licence, according to a bank employee. Now, because of the ink mark he can exchange only once. The exchange limit has been reduced to Rs 2000.

He disclosed that the practice before the introduction of the indelible ink was to send friends and relatives by those who had large amount of high denomination currency notes with identity cards and get them exchanged.

Some of them even hired daily wage workers ,who had IDs, for the purpose. It has become a thing of the past now, to the happiness of genuine customers.

A few of them had even set up exchange agencies for the benefit of black-money holders. Charges for the service varied from individual to individual.

Deposits and withdrawals can be made of higher amounts. Withdrawal can be up to Rs 24,000 per week, while deposit limit has been put at Rs 2.5 lakhs without hassles.

Also read: SBI chairperson says ATMs will soon dispense Rs 50 and Rs 20 notes

Sakshi Chaturvedi

Sakshi Chaturvedi

A journalist, presently working as a Sub-Editor at newstrack.com.

Next Story