Just after Prime Minister Narendra Modi finished an unscheduled speech announcing the discontinuation of Rs 500 and Rs 1,000 notes on Tuesday evening, panic-stricken people started lining up outside ATM kiosks across Bengaluru.
People, who didn't appear to have complete information on the withdrawal of the notes, thronged the ATMs with two purposes — deposit Rs 500 and Rs 1,000 notes and withdraw Rs 400 at a time so that they have enough money for the next two days when banks remain closed. Some ATMs were a picture of chaos with people falling one above the other and having heated arguments with anyone taking "too much" time.
Ramesh, a government official, was among those who had a tough time depositing the notes at a Karnataka Bank ATM in Wilson Garden. "I know we can return the currency to banks and post offices. I don't want to stand in a long queue.
Moreover, I don't have to show my identity card at the ATM unlike in banks and post offices when I go to exchange the notes," he said. With banks and ATMs remaining shut on Wednesday and Thursday (November 9 and 10), a large number of people were trying to withdraw Rs 100 currency notes by drawing Rs 400 at a time to avoid ATMs which are programmed to dish out Rs 500 notes for higher withdrawals. Within hours, some ATMs were emptied of Rs 100 notes.
![]( "People rush to deposit Rs 500 and Rs 1,000 notes at ATMs at SBI e-lobby on St Mark's Road in Bengaluru on Tuesday night. DH PHOTO")
Just after Prime Minister Narendra Modi finished an unscheduled speech announcing the discontinuation of Rs 500 and Rs 1,000 notes on Tuesday evening, panic-stricken people started lining up outside ATM kiosks across Bengaluru.
People, who didn’t appear to have complete information on the withdrawal of the notes, thronged the ATMs with two purposes — deposit Rs 500 and Rs 1,000 notes and withdraw Rs 400 at a time so that they have enough money for the next two days when banks remain closed. Some ATMs were a picture of chaos with people falling one above the other and having heated arguments with anyone taking "too much” time.
Ramesh, a government official, was among those who had a tough time depositing the notes at a Karnataka Bank ATM in Wilson Garden. "I know we can return the currency to banks and post offices. I don’t want to stand in a long queue.
Moreover, I don’t have to show my identity card at the ATM unlike in banks and post offices when I go to exchange the notes,” he said. With banks and ATMs remaining shut on Wednesday and Thursday (November 9 and 10), a large number of people were trying to withdraw Rs 100 currency notes by drawing Rs 400 at a time to avoid ATMs which are programmed to dish out Rs 500 notes for higher withdrawals. Within hours, some ATMs were emptied of Rs 100 notes.
People, who didn't appear to have complete information on the withdrawal of the notes, thronged the ATMs with two purposes — deposit Rs 500 and Rs 1,000 notes and withdraw Rs 400 at a time so that they have enough money for the next two days when banks remain closed. Some ATMs were a picture of chaos with people falling one above the other and having heated arguments with anyone taking "too much" time.
Ramesh, a government official, was among those who had a tough time depositing the notes at a Karnataka Bank ATM in Wilson Garden. "I know we can return the currency to banks and post offices. I don't want to stand in a long queue.
Moreover, I don't have to show my identity card at the ATM unlike in banks and post offices when I go to exchange the notes," he said. With banks and ATMs remaining shut on Wednesday and Thursday (November 9 and 10), a large number of people were trying to withdraw Rs 100 currency notes by drawing Rs 400 at a time to avoid ATMs which are programmed to dish out Rs 500 notes for higher withdrawals. Within hours, some ATMs were emptied of Rs 100 notes.
Just after Prime Minister Narendra Modi finished an unscheduled speech announcing the discontinuation of Rs 500 and Rs 1,000 notes on Tuesday evening, panic-stricken people started lining up outside ATM kiosks across Bengaluru. People, who didn’t appear to have complete information on the withdrawal of the notes, thronged the ATMs with two purposes — deposit Rs 500 and Rs 1,000 notes and withdraw Rs 400 at a time so that they have enough money for the next two days when banks remain closed. Some ATMs were a picture of chaos with people falling one above the other and having heated arguments with anyone taking "too much” time.
Ramesh, a government official, was among those who had a tough time depositing the notes at a Karnataka Bank ATM in Wilson Garden. "I know we can return the currency to banks and post offices. I don’t want to stand in a long queue.
Moreover, I don’t have to show my identity card at the ATM unlike in banks and post offices when I go to exchange the notes,” he said. With banks and ATMs remaining shut on Wednesday and Thursday (November 9 and 10), a large number of people were trying to withdraw Rs 100 currency notes by drawing Rs 400 at a time to avoid ATMs which are programmed to dish out Rs 500 notes for higher withdrawals. Within hours, some ATMs were emptied of Rs 100 notes.