Source: News Bharati English10 Nov 2016 11:03:13
New Delhi, November 10: All scheduled and non- scheduled banks, including public, private, cooperative, regional, rural and local area banks will remain open on Saturday, November 12 and Sunday, November 13, 2016 to facilitate smooth transaction, said The Reserve Bank of India.
Through RBI's currency chest, adequate currency is being provided in all banks and post offices. But it would require 2-3 weeks for full adequate replacement. It would be in effect from 10th November morning," Finance Minister Arun Jaitley told the media.
The banks were earlier ordered to remain closed on November 9 but for the convenience of public banks are advised to keep all their branches open on November 12 and 13, 2016 as regular working days for transacting business. Banks may give due publicity about availability of banking services on these days.
Officials said that honest tax payers as well as housewives and farmers with genuine savings have nothing to worry if they deposit old currencies in their bank accounts and take out replacement ones. However, tax authorities would keep a close watch on deposits of higher denominations made from illicit sources, black money or crime.
On Wednesday Government expanded the list of services where the withdrawn notes will be accepted till November 11 midnight. They include payments for metro rail tickets, highway and road toll, purchase of medicines on doctor prescription from government and private pharmacies, LPG gas cylinders, railway catering and ASI monuments entry tickets.
Banks and ATMs were shut on Wednesday to remove old Rs 500/1000 notes and stock them with lower denomination and new hard-to-fake Rs 500 and Rs 2,000 currency notes. Banks are open today as RBI has sent truckloads of new notes throughout the country, while some ATMs will begin dispensing cash. However, the ATMs will remain shut tomorrow as well.