Long queues outside banks and ATMs were witnessed on the second day this morning as people rushed to exchange their demonetised Rs 500 and Rs 1,000 notes with new ones and withdrew cash which caused hardship to them
People queue to exchange old 500 and 1000 INR notes and deposit money at a bank in Hyderabad. Pic/ AFP
New Delhi: Long queues outside banks and ATMs were witnessed on the second day this morning as people rushed to exchange their demonetised Rs 500 and Rs 1,000 notes with new ones and withdrew cash which caused hardship to them. Delhi Police has beefed up security in banks and ATMs in view of the expected rush even as residents fumed over the idea of waiting in long queues on a working day.
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However, people at many of the automated teller machines (ATMs) were agitated finding that there is no cash. Bank officials said ATMs have not stocked up yet.
In anticipation of getting cash, people including women and elderly persons had gathered at ATMs in their localities but were upset after finding that it was yet to be stocked up in the machines.
"I had woke up at 4 AM and rushed to the ATM to get cash but found that there was already a crowd who were complaining that there was no cash," said IP Extension resident, 62-year-old Vimla Devi.
Officials said that ATMs in many parts of the city were yet to be stocked with cash. The machines which were stocked with cash also ran out of it within a short duration as people queued up there from early morning hours.
The queues outside the banks grew longer with people bringing their old Rs 500 and Rs 1,000 notes for exchange. "There is an acute shortage of cash as old notes are no longer useable. I need to go to my office at Nehru Place but I have joined the queue as I have no cash and its getting difficult to survive solely through online shopping," said IT executive Radhika queued up outside a bank in Laxmi Nagar in east Delhi.
Following Prime Minister Narendra Modi's announcement to withdraw the high denomination notes, the banks were ordered to remain closed on Wednesday to realign and reload new Rs 500 and Rs 2,000 currency.
Banks have been asked to be open on weekends including Sunday to deal with the situation. The ATMs resumed functioning from today but there is a limit of withdrawl of Rs 2,000 per day which is expected to be increased in coming week.
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