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Banks open today but only senior citizens, own customers can exchange scrapped notes

The IBA decision is only for Saturday and from Monday onwards, all customers will be allowed to exchange notes at a branch of any bank

Banks across the country will remain open on Saturday and follow normal working hours to complete pending work, but only senior citizens and the bank’s own customers will be able to exchange notes at bank branches, said Rajiv Rishi, chairman of Indian Banks’ Association (IBA).

“All these days, our own customers have suffered because we have not been able to do their work. So, we have seen lot of pending work at branches, especially for our existing customers. We, from IBA, have taken a view that tomorrow, that is, on Saturday we shall be exclusively doing work for our own customers. And tomorrow we will not be doing exchange of notes (for outside customers),” IBA chairman Rajeev Rishi told reporters in Mumbai on Friday.

He, however, said senior citizens are exempted and they can go to any bank branch to exchange notes on Saturday. The IBA decision is only for Saturday and from Monday onwards, all customers will be allowed to exchange notes at a branch of any bank.

Millions of consumers have been queuing outside banks and ATMs to change a limited number of old notes for new ones or withdraw cash after PM Modi decided to scrap old Rs. 1000 and Rs. 500 notes.

Meanwhile, speaking on the issue of long queuing outside banks and ATMs, the Supreme Court on Friday dubbed it as a “serious issue” and expressed its reservation on the Centre’s plea seeking a direction that no other court in the country should entertain petitions challenging the November 8 notification demonetising Rs 1,000 and Rs 500 currency notes.

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