Wednesday, November 9, 2016

India: Banks to remain open this weekend to tackle rush after ban on Rs 500, Rs 1000 notes

Considering the rush of customers expected to exchange and deposit the banned denominations of Rs 500 and Rs 1,000 currency notes, banks in the country will remain open for public transactions on Saturday and Sunday, the Reserve Bank of India (RBI) said today.

“In order to meet the anticipated heavy demand from members of public to conduct their banking transactions, it has been decided that banks shall remain open for public transactions on Saturday, November 12 and Sunday, November 13, 2016,” the RBI said in a statement.

“Banks are advised to keep all their branches open on November 12 and 13, 2016 as regular working days for transacting all business. Banks may give due publicity about availability of banking services on these days,” it said.

Prime Minister Narendra Modi last night announced the decision to ban Rs 500 and Rs 1,000 currency notes from last midnight.

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