Long queue's, inconvenience, impatient people, commotion are the scenes that could be witnessed in all the banks in the city. Since morning people have been thronging the doors of the bank to exchange all the 500 and 1000 rupee currencies they possess. People are eager to know what notes will be given in exchange for the dummy notes. It is speculated that banks have set a limitation to exchange as shortage of notes could arise.
Speaking to SimpliCity, Asst.General Manager, Ajay Kumar Singh of Indian Overseas Bank, Main Branch- big bazaar street, has said 'Today being the first day after the two-day closure of banks, all the banks are crowded with people. We will exchange 500, 1000's from the public upto only Rs. 4000 today. Those who have accounts in the banks can exchange upto any amount and deposit in their savings bank. A withdrawal limit of Rs. 10,000/- is the limitation for a day. All those who've come to exchange are provided with an application form with some basic questions to be filled in.
Proof of address and identification is mandatory for the public those who don't possess accounts in that bank. Aadhar Card, Passport, driving license and PAN card any of the one should be showed in the cash counters for exchange of the same. However, ration cards will not be accepted as proof. The ID proofs should be original and a xerox copy of the same should be attached along with the application form. The ATM's will start to function from tomorrow'.