Several banks in Bengaluru didn't allow people to swap up to Rs 4,500 worth of scrapped notes on Monday as per the new cash limits, giving the bizarre reason that they had not received an official circular from the Reserve Bank of India (RBI).
At other banks, many people were not able to exchange Rs 4,500 worth of old notes as tellers ran out of 100-rupee notes and the new notes of Rs 500 were yet to arrive. In short, banks, post offices and ATMs in Bengaluru remained a picture of confusion and chaos for the fifth day.
"We have not increased the limit for exchange because we have only 2,000-rupee notes. We don't have change to give additional Rs 500," a bank officer said.
Most of the ATMs quickly ran out of cash. All five ATMs of HDFC Bank in Indiranagar were deserted by afternoon. While a number of ATMs have been recalibrated for Rs 2,000 notes, they now have to be reprogrammed for the new 500-rupee notes, said the officer.
If Sunday saw fewer people, large crowds were back in banks on Monday. Vatsala V, chief associate in a branch of State Bank of India (SBI), said that crowds persisted but panic among people had come down as they were better informed. "The increase in the limit to exchange and withdraw will certainly help people," she said.
The crowds have forced banks to put other work on the back burner. "We have already given out 300 tokens, so we are urging customers who are not here for exchange, withdrawal or deposit to come back tomorrow," said an employee at Citibank on MG Road.
Mohan Inamdar came all the way from Basaveshwaranagar to MG Road to exchange the notes. "I went twice to exchange notes in banks near my home but the rush was so huge that I had to return empty-handed. Here at least there is space to breathe," he said. The increase in the exchange limit is of little help, he said. "We have to run the household. How will Rs 4,500 be enough?"
![]( "At other banks, many people were not able to exchange Rs 4,500 worth of old notes as tellers ran out of 100-rupee notes and the new notes of Rs 500 were yet to arrive. DH Photo.")
Several banks in Bengaluru didn’t allow people to swap up to Rs 4,500 worth of scrapped notes on Monday as per the new cash limits, giving the bizarre reason that they had not received an official circular from the Reserve Bank of India (RBI).
At other banks, many people were not able to exchange Rs 4,500 worth of old notes as tellers ran out of 100-rupee notes and the new notes of Rs 500 were yet to arrive. In short, banks, post offices and ATMs in Bengaluru remained a picture of confusion and chaos for the fifth day.
"We have not increased the limit for exchange because we have only 2,000-rupee notes. We don’t have change to give additional Rs 500,” a bank officer said.
Most of the ATMs quickly ran out of cash. All five ATMs of HDFC Bank in Indiranagar were deserted by afternoon. While a number of ATMs have been recalibrated for Rs 2,000 notes, they now have to be reprogrammed for the new 500-rupee notes, said the officer.
If Sunday saw fewer people, large crowds were back in banks on Monday. Vatsala V, chief associate in a branch of State Bank of India (SBI), said that crowds persisted but panic among people had come down as they were better informed. "The increase in the limit to exchange and withdraw will certainly help people,” she said.
The crowds have forced banks to put other work on the back burner. "We have already given out 300 tokens, so we are urging customers who are not here for exchange, withdrawal or deposit to come back tomorrow,” said an employee at Citibank on MG Road.
Mohan Inamdar came all the way from Basaveshwaranagar to MG Road to exchange the notes. "I went twice to exchange notes in banks near my home but the rush was so huge that I had to return empty-handed. Here at least there is space to breathe,” he said. The increase in the exchange limit is of little help, he said. "We have to run the household. How will Rs 4,500 be enough?”
At other banks, many people were not able to exchange Rs 4,500 worth of old notes as tellers ran out of 100-rupee notes and the new notes of Rs 500 were yet to arrive. In short, banks, post offices and ATMs in Bengaluru remained a picture of confusion and chaos for the fifth day.
"We have not increased the limit for exchange because we have only 2,000-rupee notes. We don't have change to give additional Rs 500," a bank officer said.
Most of the ATMs quickly ran out of cash. All five ATMs of HDFC Bank in Indiranagar were deserted by afternoon. While a number of ATMs have been recalibrated for Rs 2,000 notes, they now have to be reprogrammed for the new 500-rupee notes, said the officer.
If Sunday saw fewer people, large crowds were back in banks on Monday. Vatsala V, chief associate in a branch of State Bank of India (SBI), said that crowds persisted but panic among people had come down as they were better informed. "The increase in the limit to exchange and withdraw will certainly help people," she said.
The crowds have forced banks to put other work on the back burner. "We have already given out 300 tokens, so we are urging customers who are not here for exchange, withdrawal or deposit to come back tomorrow," said an employee at Citibank on MG Road.
Mohan Inamdar came all the way from Basaveshwaranagar to MG Road to exchange the notes. "I went twice to exchange notes in banks near my home but the rush was so huge that I had to return empty-handed. Here at least there is space to breathe," he said. The increase in the exchange limit is of little help, he said. "We have to run the household. How will Rs 4,500 be enough?"
Several banks in Bengaluru didn’t allow people to swap up to Rs 4,500 worth of scrapped notes on Monday as per the new cash limits, giving the bizarre reason that they had not received an official circular from the Reserve Bank of India (RBI). At other banks, many people were not able to exchange Rs 4,500 worth of old notes as tellers ran out of 100-rupee notes and the new notes of Rs 500 were yet to arrive. In short, banks, post offices and ATMs in Bengaluru remained a picture of confusion and chaos for the fifth day.
"We have not increased the limit for exchange because we have only 2,000-rupee notes. We don’t have change to give additional Rs 500,” a bank officer said.
Most of the ATMs quickly ran out of cash. All five ATMs of HDFC Bank in Indiranagar were deserted by afternoon. While a number of ATMs have been recalibrated for Rs 2,000 notes, they now have to be reprogrammed for the new 500-rupee notes, said the officer.
If Sunday saw fewer people, large crowds were back in banks on Monday. Vatsala V, chief associate in a branch of State Bank of India (SBI), said that crowds persisted but panic among people had come down as they were better informed. "The increase in the limit to exchange and withdraw will certainly help people,” she said.
The crowds have forced banks to put other work on the back burner. "We have already given out 300 tokens, so we are urging customers who are not here for exchange, withdrawal or deposit to come back tomorrow,” said an employee at Citibank on MG Road.
Mohan Inamdar came all the way from Basaveshwaranagar to MG Road to exchange the notes. "I went twice to exchange notes in banks near my home but the rush was so huge that I had to return empty-handed. Here at least there is space to breathe,” he said. The increase in the exchange limit is of little help, he said. "We have to run the household. How will Rs 4,500 be enough?”