Mangaluru: Banks which opened on Thursday are witnessing a huge rush across the nation as people have started depositing and exchanging invalid old high-denomination notes of Rs 500 and Rs 1,000.
It may be recalled that the banks which were ordered to remain closed on November 9 are open from Thursday to help people exchange Rs 500 and Rs 1,000 notes that have been declared invalid. The banks were closed to realign and reload new Rs 500 and Rs 2,000 currency.
A housewife from Pandeshwar speaking to Newskarnataka said, “I am standing in this long queue from morning. All I have is hard-earned money and its a pain to get changed these few notes that I had withdrawn.”
Another smal-scale trader, said, “Ultimately the sufferes are the middle-class people and the poor. I have left all my work behind and I am standing here in this mad rush.”
Prime Minister Narendra Modi announced on Tuesday night that Rs 500 and Rs 1,000 currency notes will cease to be legal tender from midnight of Tuesday. He said this was aimed to battle black money.