November 19, 2016 4:07 PM

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10 days after demonetisation, many banks starts witnessing shorter queues

Ten days after demonetisation of high value notes, many banks have now started witnessing shorter queues following some restrictions on exchange of defunct bills. However, people were still seen waiting at ATMs to withdraw cash. Banks across the country are exchanging old 500 and 1,000 rupee notes for only senior citizens. <br/><br/>Indian Banks' Association (IBA) Chairman Rajeev Rishi said working hours at banks on Saturday would be devoted to their own customers and said that only senior citizens have been exempted with regard to the exchange of currency notes at various bank branches across the country. Mr Rishi however, said, the decision is only for Saturday, and from Monday onwards, all customers will be allowed to exchange their notes at a branch of any bank. <br/><br/>Meanwhile, Finance Minister Arun Jaitley has said that replacing 86 percent of the currency notes with new ones could not have been done in better way than the present way of doing so.

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