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| Post demonetization chaos outside banks, people wait in long queues at banks, ATMs | | |  Early Times Report
Rajouri/Udhampur, Nov 11: Queues outside banks grew longer as confusion and chaos continued among people across the state with banks started normal functioning after ban announced on currency notes. People waited for hours to get the cash needed to meet their daily expenses as most prevalent higher denomination currency notes of Rs 500 and Rs 1000 were declared invalid.
During last two days heavy rush of people was witnessed outside all the banks in Rajouri and Udhampur towns to exchange/ deposit demonetized higher denomination notes.
People standing in queues included engineers, doctors, bureaucrats, leading businessmen etc who are also looking some alternatives to save their money but are left with no option but to join in long lines.
"Even the private financiers were seen returning the higher denomination notes to the depositors as they have accumulated huge amounts and finding no source to replace it with new currency notes while few businessmen still (till 6 pm today) taking these notes for the reasons best known to them." said a sources from Rajouri.
Heavy rush was also witnessed outside the ATMs in the town after these were made operational from midnight today. Hoever, people are getting only notes of Rs100 denomination as no new notes of Rs 500 and Rs 2000 will be made available in border towns during next few weeks.
Many banks including J&K bank, J&K Co-operative bank reportedly ran short of the cash further creating confusion among the people who later rushed towards the main branch of State Bank.
R Mengi, Branch Manager, State Bank of India after noticing heavy rush inside the bank contacted the senior police officers to deploy the police force to control the rush and for the security of the bank and staff.
"As the bank witnessed heavy rush after some banks ran short of the cash, CRPF was deployed on the gate to control large number of people who came to deposit cash, exchange the in-valid bank notes of Rs 500 & Rs1000 denominations" said SBI , branch manager
Meantime long queues were witnessed at the main branches of State Bank, J&K Bank,JK Cooperative Bank, Punjab National Bank ,HDFC bank in the town.
As per reports over Rs 10 lakhs have been exchanged with Rs500 and Rs1000 in-valid notes during last two days in the State bank. Barring few cases of more than Rs 2 lakh deposits made in the form of in-valid bank notes all other deposits limited between Rs five thousand to Rupees fifty thousand" said the official
He added even for deposit of in valid bank notes in the current accounts/ saving accounts opened without Pan Card numbers, depositors have been asked to submit their PAN numbers to make their accounts operational.
Smaller deposits made by housewives, small businesses and artisans that fall below the taxable income threshold will not come under the department's scrutiny.
Similarly the banks in Udhampur also opened up to long, serpentine queues today as thousands of people rushed to their nearest branch to deposit the demonetized currency notes of Rs 1000 and Rs 500 denomination in their accounts with police maintaining tight security amidst heavy rush.
Anxious customers rushed the bank branches in Devak Nagri much before the opening time waiting for several hours to complete their transactions.
Security has been beefed up around banks and ATMs while people were seen fuming over the idea of waiting in long queues on a working day.
Several branches of banks witnessed unprecedented rush and due to which the Bank Officials sought the deployment of police personnel to prevent any law and order problem.
Branch Manager Sham , J&k Bank Housing Colony branch said we are making all possible efforts to manage the crisis but people ought to understand that the government has allotted 52 days for returning the old notes but confusion within common masses is creating chaos. |
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