There were serpentine queues as people waited to enter banks premises in the national Capital to exchange their old currency notes with the new ones issued by the Reserve Bank of India.
Surprisingly people started gathering outside the bank early in the morning in certain areas of South Delhi on Thursday. The decision taken by Modi Government to scrap the use of Rs500 and 1,000 notes evoked varied response. Some criticised the move, while others lauded the bold initiative by the Prime Minister.
Supriti, a housewife, who lives in lodhi Road said, "It was 9 pm on Wednesday night, when I saw people gathered outside the bank premises in Defence Colony to exchange their notes of Rs500 and Rs 1,000. But they dispersed after being told to come the next morning, she added.
Abhijit, a software engineer said, "There was too much rush in the morning when I went to the bank and as the gate opened, people started scuffling to get in. Earlier people panicked over uncertainty of getting all their money exchanged.” However, the number of people remained the same throughout the day as people milled around bank premises to get new currency.
Ram Narayan, the Assistant General Manager of Central Bank at Bahadur Shah Zafar Marg branch said, "Earlier we were operating on two counters but now it has been increased to eight for the convenience of the people. We have separate counters for exchange of money to deal with the massive rush."
Narendra Gupta, an assistant manager of Central Bank, said the ban will help curb black money. "Though work load has increased, we are satisfied to serve people at our best as per Government's instructions, because this will effectively curb black money. There will be a shift in consumption pattern in the society. Cash transaction will be lesser. An estimated more than Rs2.5 lakh will be scrutinsed by the Income Tax Department," added Gupta.
Amit Kumar Yadav, a software developer, who was stadning at HDFC bank, Connaught Place said, "I am in great trouble as I am left with old denomination notes while I have to catch a train home at 5 pm today." Reacting to the rush and minor scuffle between bank staff and the people, a police official deployed at the bank said, we are experiencing such chaos since morning and persuading people to wait until their turn.
Rapid Action Forces (RAF) deployed at Daryaganj branch of State Bank of India were seen managing queues and requesting people to wait patiently.
"The decision of the Government to curb black money is a welcome step and the impact would be seen but I think it could be managed better to avoid chaos", said Riddhi Manchanda, who was waiting for her turn at Dena bank, Civil lines.