the goan I network
MARGAO
Treasuries of some of the banks in the city ran out of money by noon as beleaguered account holders made a beeline outside the braces to exchange the currency notes. The State Bank of India branch in the heart of the town witnessed heavy rush of customers, as Margao police deployed its personnel to man the gates and regulate the queue. Comparatively, the city main post office did not see any queue of customers and business continued as usual in the postal services.
However, almost all the branches of banks saw serpentine queue of customers, waiting for their turn to either exchange their currency notes or deposit them in the banks. While the more fortunate customers managed to lay their hands on the new Rs 2,000 currency note, others returned disappointed and dejected after being told that the banks have run out of cash.
Traders in the market, however, said that Day One of the exercise to exchange currency notes failed to bring a turn around in the situation. President of the New Market Traders Association Vinod Shirodkar said that hundred rupees currency notes are still short in supply and hence its absence had an impact on the business activity. “Customers still come with Rs 500 or Rs 1000 currency notes, but we are helpless. I feel that unless there is sufficient circulation of the currency notes in the denomination of Rs 100, the situation will not improve immediately,” he said.
