Fearing a jump in footfalls to deposit or withdraw cash following the demonetisation of 500 rupees and 1,000 rupees banknotes, banks will remain open this Saturday and Sunday and its staff will do overtime till 9 PM for the next three days to clear the rush.In a tweet, Economic Affairs Secretary Shaktikanta Das said for public convenience, banks will remain open on coming Saturday and Sunday. Banks also announced a slew of measures, including extension of banking hours, doing away with ATM charges and expanding credit limits to handle the expected huge rush to tender now defunct 500 rupee and 1000 rupee notes.Bankers have also been advised not to take additional leaves for the next one month, during which the government has asked holders of over 22 billion currency notes, that are no longer legal tender, to deposit them in bank accounts.The Reserve Bank also came out with an order instructing all the banks to be open for business on the coming weekend, including Sunday. RBI also said, ATMs will remain shut today as well. The nation's largest lender State Bank of India has announced an extension in banking hours, till 6 PM today. Each of its branches will be having a dedicated 'exchange counter' to change the currency notes.ICICI Bank Managing Director and CEO Chanda Kochhar said, the bank's branches will be open till 8 PM today and tomorrow. ICICI Bank has also doubled the daily usage limit of debit cards for use at merchant ends as well as online transactions. People holding to the older notes will be very keen to do away with them and also get the newer series banknotes of higher denomination when the bank branches reopen today. ICICI Bank said it is ensuring that 2000 rupees and the existing notes of 100 rupees notes are available at its 'main branches' from today.
News On AIR | November 10, 2016 10:02 AM
Banks to remain open on Saturday & Sunday to help people exchange their old notes