Banks to exchange old notes only for their own customers on Saturday

Updated: Nov 19, 2016, 10:28 IST | Agencies |

Indian Banks' Association (IBA) on Friday said all banks will serve only their own customers on Saturday and will not exchange the old Rs 500 and Rs 1,000 notes for customers of other banks

Old notes exchange only for own customers on Satruday, says banks

Indian Banks' Association (IBA) on Friday said all banks will serve only their own customers on Saturday and will not exchange the old Rs 500 and Rs 1,000 notes for customers of other banks.

"All these days our own customers have suffered because we have not been able to do their work. So, we have seen lot of pending work at branches especially for our existing customers. We, from IBA, have taken a view that on Saturday we shall be exclusively doing work for our own customers. And notes will not be exchanged for outside customers," IBA chairman Rajeev Rishi said.

However, senior citizens are exempted and can go to any bank branch to exchange notes. The IBA decision is only for today and from Monday all customers will be allowed to exchange notes.

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