After 10 days of demonetisation crowds outside banks and ATMs declined marginally on Saturday as only senior citizens were allowed to exchange old notes. Other people were seen waiting in long queues either to deposit their old notes or withdraw cash at banks and ATMs.
All banks on Saturday served only their respective customers and refused to exchange the old Rs 500 and Rs 1,000 notes from customers of other banks. However, this restriction is not applicable on senior citizens as they are allowed to visit any bank branch to exchange old defunct currency notes. The exchange limit has already been almost halved to Rs 2,000 to ease some pressure on cash demand. In spite of getting preference, senior citizens had to wait in queues for their turn.
Bank branches saw orderly queues following restrictions imposed by the Government, but chaos at ATMs still continued since most of them are still out of cash. In some areas, ATMs failed to dispense currency.
Following Government announcement of relaxation being provided to farmers and for marriage, families, where marriage ceremonies are due, started making a beeline at the branches to to withdraw Rs 2.5 lakh with all evidence for marriage and their identity proof, only to return empty-handed as bank officials turned them away, saying there is no operational guidelines RBI in this regard.
With the Government and RBI struggling to manage cash availability across the country, the small businesses — from vegetable vendors to dhabas and small kirana stores — that use cash as mode of transaction were badly hit. At various hospitals across the country, patients and their family members are facing inconvenience in buying medicines, food and availing transportation due to inadequate small currency notes.
A bulk of daily labourers was rendered jobless as construction and other activities came to a standstill in the wake of lack of payment for cement, sand and other supplies.