Sat, Dec 3, 2016 | updated 05:55 AM IST

Banks to not exchange Rs. 2000 notes tomorrow, exception for senior citizens only

Updated: Nov 18, 2016 20:40 IST

Mumbai [India], Nov. 18 (ANI): Keeping in view that all banks have been working on overdrive since the Centre announced demonetisation, the Indian Bank Association (IBA) on Friday announced that all banks across the nation will not exchange over the counter the new 2000 rupee notes on Saturday in order to update their pending works and tend to their respective customers.

Speaking to ANI here, IBA Chairman Rajeev Rishi stated that ever since demonetisation was announced, all banks have been working for extended hours including holidays to ensure the public at large was not inconvenienced.

"In fact, we have diverted all human resource to make sure that all those who stood in queues got their money exchanged, deposited and withdrawn. In the process what we have felt is that in the last one week our own customers have actually suffered. Routine works are not done and routine works are pending in banking activities," he said.

However, senior citizens are exempted from the directive and banks will be accepting all their requests.

"We have taken a view that on Saturday, the banks shall not be doing exchange over the counter of 2000 rupees. We will make an exception for senior citizens. But tomorrow we will spend trying to update our works and do the works in relation to our own customers," Rishi added.

Asserting that the time tomorrow will be used for meeting the needs of their own customers, the chairman further said that all banks will be observing their normal hours and will ensure their patrons get the full service and undivided attention in other matters. (ANI)