SBI chief says no exchange of notes on Saturday
State Bank of India Chairperson Arundhati Bhattacharya on Friday said banks in the country will not be exchanging the old 500 and 1000 rupee notes for new currency on Saturday.
Talking to India Today, Bhattacharya said the exchange of notes will take place on Monday next week.
Reports also said only senior citizens can exchange the scrapped high denomination currencies tomorrow in banks across the country.
Rajiv Rishi, president of the Indian Banking Association was quoted by NDTV as saying: “Banks have been working very hard. There is visibly less rush now and so on Saturday we will not do exchange notes. The only exception is for senior citizens.”
Moreover, the banks will be only operating during the normal working hours on Saturday.
Media reports, citing sources, earlier claimed the government is planning stop the exchange of old 500 and 1000 rupee notes for new currency at banks.
However, the government officials denied the reports, saying there is no proposal as of now to stop the over-the-counter exchange.