Troublesome Thursday: How the first day of Rs 500, Rs 1000 exchange panned out

People across the country started queuing up outside banks and ATMs on Thursday to get new currency notes in exchange of Rs 500 and Rs 1000 notes that have been abolished by the government.

black money crackdown Updated: Nov 10, 2016 22:55 IST
HT Correspondent, Hindustan Times
Rs 100,Rs 500,Black Money
People queue outside the Reserve Bank of India to deposit and exchange 500 and 1000 currency notes, in New Delhi.(AFP Photo)

People across the country queued up outside banks and ATMs on Thursday to get new currency notes in exchange of Rs 500 and Rs 1000 notes that have been abolished by the government.

Delhi Police have made adequate arrangements to ensure law and order and smooth demonetisation process in the national capital.

Fearing a jump in footfalls to deposit or withdraw cash following the demonetisation, banks will remain open this Saturday and Sunday and its staff will do overtime till 9 pm for the next three days to clear the rush.

The government on Tuesday had demonetised the Rs 500 and Rs 1,000 notes as part of its efforts to clamp down against the black money, fake currency and terror financing.

Take a look at what happened on Thursday

•Minister of state for home affairs says the govt decision will stop terror funding and circulation of fake currency. This step will break the bones of terror organisation, he says.

• Delhi chief minister Arvind Kejriwal questions the government’s move to scrap Rs 1000 notes and introduce Rs 2000 notes instead. “I don’t understand one thing, how you end corruption by banning Rs 1000 notes and introducing Rs 2000 notes,” ANI quoted him as saying.

• Reports emerge of customers requesting banks to issue more than Rs 4,000.

• Arun Jaitley says nobody would be harassed over smaller deposits -- less than Rs 2.5 lakh.

State Bank of Patiala officials deposit Rs 500 and Rs 1000 denomination notes, in Patiala. (Bharat Bhushan /HT Photo)
People stands in queue outside a post office to deposit and exchange Rs 500 and Rs 1000 currency notes, in Ahmedabad. (AP Photo)

•In Ranchi, Old HB road connecting Lalpur-Kokar choked for hours after the customers’ queue extended up to the main road half-an-hour before the bank’s opening. With opening of the bank, security personnel were deputed to prevent any untoward incident. Fifty-year-old Geeta Devi said, “I have no money at home. I came early so that ration for lunch could be purchased.”

A person stands with his documents in a queue outside a branch of the State Bank of India as people wait to exchange old high denomination bank notes in Old Delhi. (Reuters Photo)

•There were unprecedented traffic jams and long queues outside the banks in Jaipur. Banks witnessed chaos as people rushed to submit identity proofs and fill forms. “I had come to bank at 10 and since then I am running from one counter to other for fulfilling the formalities. The staff is cooperating but it is taking too much time,” said a customer, waiting at the counter to deposit money.

A customer fills up documents at Bank of Baroda to deposit and exchange Rs 500 and Rs 1000 banknotes, in Lucknow. (Arun Sharma/ HT Photo)

• Trying to ensure requisite replacement currency is available with people at the earliest; no need for people to rush, says finance minister Arun Jaitley.

Peope stand outside Reserve Bank of India to exchange banned Rs 500 and Rs 1000 bnaknotes, at Parliament Street in New Delhi. (Arvind Yadav/HT Photo)

•Over 3000 paramilitary and police personnel, quick reaction teams deployed in Delhi for security in banks.

A visually challenged person counts Rs 500 notes outside the Reserve Bank of India at Parliament Street, New Delhi. (Arvind Yadav/HT Photo)

Banks witnessed highest-ever footfall as long queues were formed hours before the branches opened. “I am standing in the queue since 8.45 am and waiting for the bank to open. The bank said they did not have R 2000 notes so I got R 4000 in denomination of R 100 currency notes,” said Abhijit Sachdeva, a resident of Ghaziabad.

People stand in queue as they wait to enter a bank in Kolkata. (Reuters Photo)
People queue up outside ICICI Bank in Connaught place in New Delhi. (Arvind Yadav/HT Photo)
A man counts 500 and 1000 rupee banknotes outside a branch of Bank of India in Mumbai. (Reuters Photo)
A close look of the new Rs 2000 bank note issued by the government. (Arvind Yadav/HT Photo)
Peopel queue up outside Reserve Bank of India to exchange banned Rs 500 and Rs 1,000 notes, in New Delhi. (ANI Photo)
People form a queue outside a bank in Chennai to exchange old currency notes. (ANI Photo)
A long queue can be seen outside a SBI bank branch in Lucknow. (HT Photo)
People show new Rs 2000 bank notes outside a bank in Ghaziabad. (HT Photo)

First Published: Nov 10, 2016 10:36 IST