People queue up in ATMs, anxious to deposit Rs 500, Rs 1000 notes

Just after Prime Minister Narendra Modi’s announcement scrapping Rs 500, Rs 1,000 notes, people began queueing up in bank ATMs to deposit currencies of these denominations in Cash Deposit Machines (CDMs) and tried to withdraw notes of lower denomination.

At “e-corners,” of large banks including State Bank of India that offer multiple banking services including deposit and withdrawal of cash, people formed serpentine queues.

At the SBI e-corner in Kodambakkam here the queue stretched till the main road from the bank premises with anxious people waiting to deposit their five hundred and thousand rupee notes.

A Kumar, a private sector employee said he deposited whatever “five hundred and thousand rupee notes,” he had.

“Luckily, the cash disbursal machine gives out only Rs 100 notes now,” he told PTI.

In almost all the ATMs, people could be found making a big beeline.

Although it has been announced that fuel outlets will accept Rs 500, 1000 notes for the next 72 hours, some petrol pump operators sounded apprehensive and declined to accept five hundred and thousand rupee notes from their customers ensuing in arguments.

Though the ban of currencies will take effect only from today midnight, shopkeepers, restaurants and traders could be seen declining to accept Rs 500, Rs 1000 notes.

Everywhere, ranging from tea stalls to bus stations, the demonetisation of the currency was the main topic of discussion.

Meanwhile, a Puducherry report said long queues were seen before ATMs of almost all banks to deposit Rs 1,000 and Rs 500 notes in this possession.

With the news of demonetisation of the currencies of these denominations spreading like wild fire, people rushed to the ATMS to utilise the cash deposit facility.