Shorter queues at banks on Saturday
Day was set aside for senior citizens to exchange money
THE GOAN NETWORK
Queues at most banks were a lot shorter on Saturday, than earlier. Bankers attributed this to the Indian Banks Association (IBA) limiting exchange of old currency notes only for senior citizens.
A manager of a public sector bank said, “Exchange of old notes is permitted only for senior citizens and that’s the reason we have lesser people in banks today resulting in shorter queues. Besides, ATMs are dispensing Rs 2,000 notes now, which allows people to withdraw cash from ATMs and not come to banks.”
But, traders in market said that supply of Rs 100 notes is still inadequate, while new Rs 500 notes are also not available. This makes it very tough for them to tender change to customers and limits their business.
A person from Kamat Hotel on 18th June Road in Panaji said, “The notes of smaller denominations like Rs 100 get over quickly. Customers turn up and give us Rs 2,000 notes and we are expected to give them change. This has affected our business adversely.”
The mood in the street has turned glum and shoppers with credit and debit cards aren’t making purchase either. An official from Indian Terrain showroom in Panaji said, “We had only one walk-in customer on November 18. People aren’t really coming to markets to buy things.”
As year-end approaches, all big brands will offer huge discounts. Therefore, all the showrooms are hoping that year end rush of customers will save the day for them. Meanwhile, banks will remain shut on Sunday, November 20.
