The Centre's decision to restrict cash exchange to senior citizens on Saturday had a visible impact as banks saw smaller crowds. But ATMs in the city provided little relief as people were unable to withdraw low-denomination notes.
Seshadri M, a senior citizen, appeared relieved as he stepped out of a nationalised bank in Indiranagar, holding a 2,000-rupee note. "After waiting for an hour, I have finally got the new note. It feels great. But I wonder where do I get change for Rs 2,000."
Others were not as lucky as Seshadri, though. Venkatesh Giri, a senior citizen from Vasanthnagar, said, "This is the third time I visited the bank. I was told to come later. Many ATMs are not functioning either. The functional ones have long queues."
Many people did turn up at banks, not knowing that the cash exchange was restricted to senior citizens. At a bank on Cunningham Road, people waited for sometime but left eventually after learning that only cash deposits were being accepted.
Contrary to rumours that the new Rs 500 notes had arrived in Bengaluru, ATMs dispensed only Rs 2,000 bills. Shashidhar G P, branch manager of Canara Bank, Cunningham Road, confirmed to DH that banks in Bengaluru were yet to receive the new Rs 500 notes. He also acknowledged that some banks were finding it difficult to swap the old notes.
Post offices are also facing a shortage of low-denomination notes. A post office in HAL 2nd Stage dispensed Rs 2,000 notes only. "Earlier, we were giving Rs 50 and Rs 100 notes but have stopped that now," said a staffer who declined to be named. "We just don't have low-denomination notes."
Footfall drops in malls too
Along with small grocery stores and traditional shops in Gandhi Bazaar, Chickpet, KR Market and other places, malls are also having a tough time. Garuda Mall has seen sales drop by as much as 30% though most outlets accept card payments. But Uday B Garudachar, who owns the mall, supported the demonetisation. "Inconvenience will last only for a few days. I am hopeful that things will settle down gradually," he said. The owner of a small eatery in a mall in eastern Bengaluru said his business had dropped by at least 25%.![]( "An elderly woman is being helped at one of the banks at Basaveshwaranagar on Saturday. The banks gave special preference to senior citizens. DH PHOTO/Vishwanath Suvarna")
The Centre’s decision to restrict cash exchange to senior citizens on Saturday had a visible impact as banks saw smaller crowds. But ATMs in the city provided little relief as people were unable to withdraw low-denomination notes.
Seshadri M, a senior citizen, appeared relieved as he stepped out of a nationalised bank in Indiranagar, holding a 2,000-rupee note. "After waiting for an hour, I have finally got the new note. It feels great. But I wonder where do I get change for Rs 2,000.”
Others were not as lucky as Seshadri, though. Venkatesh Giri, a senior citizen from Vasanthnagar, said, "This is the third time I visited the bank. I was told to come later. Many ATMs are not functioning either. The functional ones have long queues.”
Many people did turn up at banks, not knowing that the cash exchange was restricted to senior citizens. At a bank on Cunningham Road, people waited for sometime but left eventually after learning that only cash deposits were being accepted.
Contrary to rumours that the new Rs 500 notes had arrived in Bengaluru, ATMs dispensed only Rs 2,000 bills. Shashidhar G P, branch manager of Canara Bank, Cunningham Road, confirmed to DH that banks in Bengaluru were yet to receive the new Rs 500 notes. He also acknowledged that some banks were finding it difficult to swap the old notes.
Post offices are also facing a shortage of low-denomination notes. A post office in HAL 2nd Stage dispensed Rs 2,000 notes only. "Earlier, we were giving Rs 50 and Rs 100 notes but have stopped that now,” said a staffer who declined to be named. "We just don’t have low-denomination notes.”
Footfall drops in malls too
Along with small grocery stores and traditional shops in Gandhi Bazaar, Chickpet, KR Market and other places, malls are also having a tough time. Garuda Mall has seen sales drop by as much as 30% though most outlets accept card payments. But Uday B Garudachar, who owns the mall, supported the demonetisation. "Inconvenience will last only for a few days. I am hopeful that things will settle down gradually,” he said. The owner of a small eatery in a mall in eastern Bengaluru said his business had dropped by at least 25%.
Seshadri M, a senior citizen, appeared relieved as he stepped out of a nationalised bank in Indiranagar, holding a 2,000-rupee note. "After waiting for an hour, I have finally got the new note. It feels great. But I wonder where do I get change for Rs 2,000."
Others were not as lucky as Seshadri, though. Venkatesh Giri, a senior citizen from Vasanthnagar, said, "This is the third time I visited the bank. I was told to come later. Many ATMs are not functioning either. The functional ones have long queues."
Many people did turn up at banks, not knowing that the cash exchange was restricted to senior citizens. At a bank on Cunningham Road, people waited for sometime but left eventually after learning that only cash deposits were being accepted.
Contrary to rumours that the new Rs 500 notes had arrived in Bengaluru, ATMs dispensed only Rs 2,000 bills. Shashidhar G P, branch manager of Canara Bank, Cunningham Road, confirmed to DH that banks in Bengaluru were yet to receive the new Rs 500 notes. He also acknowledged that some banks were finding it difficult to swap the old notes.
Post offices are also facing a shortage of low-denomination notes. A post office in HAL 2nd Stage dispensed Rs 2,000 notes only. "Earlier, we were giving Rs 50 and Rs 100 notes but have stopped that now," said a staffer who declined to be named. "We just don't have low-denomination notes."
Footfall drops in malls too
Along with small grocery stores and traditional shops in Gandhi Bazaar, Chickpet, KR Market and other places, malls are also having a tough time. Garuda Mall has seen sales drop by as much as 30% though most outlets accept card payments. But Uday B Garudachar, who owns the mall, supported the demonetisation. "Inconvenience will last only for a few days. I am hopeful that things will settle down gradually," he said. The owner of a small eatery in a mall in eastern Bengaluru said his business had dropped by at least 25%.
The Centre’s decision to restrict cash exchange to senior citizens on Saturday had a visible impact as banks saw smaller crowds. But ATMs in the city provided little relief as people were unable to withdraw low-denomination notes. Seshadri M, a senior citizen, appeared relieved as he stepped out of a nationalised bank in Indiranagar, holding a 2,000-rupee note. "After waiting for an hour, I have finally got the new note. It feels great. But I wonder where do I get change for Rs 2,000.”
Others were not as lucky as Seshadri, though. Venkatesh Giri, a senior citizen from Vasanthnagar, said, "This is the third time I visited the bank. I was told to come later. Many ATMs are not functioning either. The functional ones have long queues.”
Many people did turn up at banks, not knowing that the cash exchange was restricted to senior citizens. At a bank on Cunningham Road, people waited for sometime but left eventually after learning that only cash deposits were being accepted.
Contrary to rumours that the new Rs 500 notes had arrived in Bengaluru, ATMs dispensed only Rs 2,000 bills. Shashidhar G P, branch manager of Canara Bank, Cunningham Road, confirmed to DH that banks in Bengaluru were yet to receive the new Rs 500 notes. He also acknowledged that some banks were finding it difficult to swap the old notes.
Post offices are also facing a shortage of low-denomination notes. A post office in HAL 2nd Stage dispensed Rs 2,000 notes only. "Earlier, we were giving Rs 50 and Rs 100 notes but have stopped that now,” said a staffer who declined to be named. "We just don’t have low-denomination notes.”
Footfall drops in malls too
Along with small grocery stores and traditional shops in Gandhi Bazaar, Chickpet, KR Market and other places, malls are also having a tough time. Garuda Mall has seen sales drop by as much as 30% though most outlets accept card payments. But Uday B Garudachar, who owns the mall, supported the demonetisation. "Inconvenience will last only for a few days. I am hopeful that things will settle down gradually,” he said. The owner of a small eatery in a mall in eastern Bengaluru said his business had dropped by at least 25%.