Long queues were also seen at the Reserve Bank of India’s regional office at Saifabad and other banks in the Telugu states after center’s decision to scrap the Rs.500 and Rs.1000 notes
Thousands of people flocked to banks for exchange or deposit of their currency. The exchange limit was for Rs 4,000. The bank officials were giving a new note of Rs 2000 and 20 notes of Rs 100.
People were in hurry to get rid of the currency notes which ceased to be legal tender. Banks opened extra counters and the staff helped the customers with filling up of forms for exchange of notes .
There was no limit on deposit but for big amounts, the banks were insisting on PAN number. Those drawing Rs 10,000 from their bank accounts were also asked to produce their identity proof. Police were deployed at all bank branches in Hyderabad , Vijayawada, Visakhapatnam and other places.
Meanwhile, A PIL filed in High Court of Judicature at Hyderabad challenging Govt’s decision to withdraw Rs 500/1000 notes, to be heard tomorrow