Buisness

As the exchange of Rs 2,000 notes starts, there are long lines and uncertainty at the banks

Long lines were seen at several bank branches in Delhi as the procedure for exchanging Rs 2,000 currency notes got underway on Tuesday. Customers were eager to exchange the currency notes for lesser amounts.
However, in certain locations, users said that the banks sought ID evidence and asked them to deposit the money instead.
Amar Singh said that there has been a lengthy wait at the ICICI Bank branch in Green Park since the morning and that there is commotion and uncertainty since bank employees are refusing to exchange the notes and instead demanding to deposit them.
The majority of us want to swap notes, therefore if the bank is unable to do so because they did not make the necessary preparations, then that is their problem. Why should we put them in a bank, he said.
“My wife had saved Rs 16000, and all of them are Rs 2000 notes,” he said.
There have even been disputes between bank employees and consumers at certain institutions.
I arrived to the PNB bank in Lajpat Nagar in the morning, and more than two hours later, I am still waiting for my turn to convert money. They are moving extremely slowly, said 68-year-old Amresh Sharma.
The majority of us are old, and they (the bank workers) don't seem to care, he said.
Meanwhile, a number of individuals expressed their displeasure over the gasoline outlets' refusal to take Rs 2,000 notes.
Sahil, 24, a resident of Malviya Nagar, stated, “The fuel station employee asked me to pay online instead of accepting Rs 2,000 note, as they are not accepting the notes, which are still legal tender.”
Chaos was also seen in the Azadpur vegetable market, where the vendors said that the majority of customers there were paying with notes worth Rs 2,000.
In the vegetable market, a wholesaler said, “The buyers are only bringing Rs 2,000 notes in order to simply get rid of them.”

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