Published On: Sat, Nov 19th, 2016

Today you can exchange notes only at your bank branch, elderly can change anywhere

New Delhi: Indian Banks’ Association on Friday said that all banks will serve only their respective customers on Saturday and will not exchange the old Rs 500 and Rs 1,000 notes from customers of other banks.


“All these days our own customers have suffered because we have not been able to do their work. So, we have seen lot of pending work at branches especially for our existing customers. We, from IBA, have taken a view that tomorrow, that is, on Saturday, we shall be exclusively doing work for our own customers. And tomorrow(Saturday) we will not be doing exchange of notes (for outside customers),” IBA chairman Rajeev Rishi said. 

He, however, said senior citizens are exempted and they can go to any bank branch tomorrow to exchange notes which have ceased to exist as legal tender after government’s demonetisation decision . 

The IBA decision is only for Saturday and from Monday onwards all customers will be allowed to exchange notes at a branch of any bank. 

Commenting on the recent introduction of indelible ink+ marks on index fingers of those exchanging notes, Rajiv said, “Using indelible ink reduced queues substantially, it has come down to 40% of what it was initially”. 

Since Wednesday, banks have started applying indelible ink mark on the right hand index finger of customers in the select metro cities to stop repeat money exchangers thronging banks with invalid currency notes. (PTI)