Many persons who visited banks to exchange their Rs 500, 1,000 notes returned empty handed. All banks were shut today. Only a few banks were open to non-cash transaction, but most of them kept shutters down.
Ramaswamy, a senior citizen that OneIndia spoke with said that the move of the government to declare invalid the Rs 500, 1,000 notes is a brilliant one. It is a brilliant move for the economy, he said. I am 75 and I may face difficulties in walking up to the bank and get my cash converted or deposit my cash savings but I know that this is for the country's betterment. If I as a senior citizen can make this adjustment, I am sure that youngsters can too, he also said.
Meanwhile several banks have said that they do not have enough Rs 100 notes. Bharathi, bank manager at the State Bank of Mysore, Banashankari branch said, " we do not have enough Rs 100 notes. We also transact in the Rs 500, 1,000 denomination. We are awaiting instructions from the treasury chests and head offices on the next course of action, she also said.
Further she added that it will be difficult to source that many Rs 100 notes. However there is a cap of Rs 2,000 per day and this is some respite for us, she also said.