First day of Rs 2,000 note exchange: Short queues at some branches

New Delhi. Small queues were seen at some bank branches on Tuesday, the first day of exchanging Rs 2,000 notes with notes of smaller denominations. There was no significant rush to exchange notes when bank branches opened in the morning. Business was normal at branches of private sector banks in metros. A senior official of a public sector bank said that there is not much rush as of now as there is four months to exchange notes and Rs 2,000 currency. is also relatively low in circulation.

Unlike the last demonetisation in 2016, Rs 2,000 notes remain legal tender this time. The official said branches are not overcrowded and deposits are being accepted as per extant guidelines. It has been advised that they should make arrangements for ‘shades’ to protect people from the sun when they come to exchange or deposit Rs 2,000 notes. Along with this, drinking water should also be arranged for the people standing in the queue. It is worth mentioning that during the demonetisation in 2016, there were queues in the banks to change the notes and it is alleged that many customers had also died during this period.

It will continue to be legal tender despite the announcement of the withdrawal of Rs 2,000 notes on Friday. This was not the case after demonetisation was announced in 2016. “Banks have been advised to make arrangements for sheds and water for customers waiting at their branches,” the Reserve Bank said in a notification issued on Monday. It has been asked to make the facility available over the counter in the normal way. Apart from this, banks have been asked to maintain details of Rs 2,000 notes deposited and exchanged daily.


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