Banks, all over the country on Tuesday came reopened after a day’s off following the government’s decision to ban Rs 500, Rs 1000 notes and introduce new Rs 500 and Rs 2000 notes. People were seen in queues outside banks, early in the morning waiting for banks to re-open. Following Prime Minister Narendra Modi’s announcement of banning Rs 500, Rs 1000 notes in an attempt to curb down the flow of black money, citizens all over the country had been seen flocking banks in order to deposit their old currencies or exchange them.
Most banks had been opened from 8 am in the morning till late in the evening, including on Saturday and Sunday. Banks had been declared closed for the first two days after Prime Minister Modi’s announcement on the night of November 8. Bank employees have been reported to have faced quite a hectic week in the wake of the demonetization scheme by the Central government.
Meanwhile, it hasn’t been pleasant for people either as they have had to stand in extremely long queues for hours to deposit or exchange their money. The maximum limit for the exchange of the old currencies had been set to Rs 4000 per day. ATMs too had faced similar long queues for days on a rope as people flocked them for hours in order to take out Rs 2000 per day. Many people had also complained about the inefficiency of the system in proving adequate measures to control the long queues and facilitate the replacement of these old currencies. While the opening of banks after a day of holiday is good, it has to be noted that these long queues and impatient customers are not likely to go away till December 30, 2016.