Rs 500 and Rs 1,000 notes invalid: Banks to remain open on Nov 12, 13

Narendra Modi had on Tuesday announced demonetisation of currency notes of Rs 500 and Rs 1,000 denomination to tackle the menace of black money

New Delhi, Nov 9: The government said on Wednesday that banks will remain open on the coming weekend for convenience of people following its decision to demonetise currency notes of Rs 500 and Rs 1,000 denomination.

"For public convenience, banks will remain open on coming Saturday and Sunday," Economic Affairs Secretary Shaktikanta Das said in a tweet.

Prime Minister Narendra Modi had on Tuesday announced demonetisation of currency notes of Rs 500 and Rs 1,000 denomination to tackle the menace of black money.

Following the news, there was panic among citizens, who thronged to ATMs to withdraw money of lower denomination. While many welcomed the government's decision to scrap Rs 500 and Rs 1,000 notes, there were many who were surprised by the sudden implementation of the same.

IANS