New Delhi: In a major relief for senior citizens, the Indian Bank Association head, Rajiv Rishi announced that banks across the country would be operative during their normal working hours tomorrow (Saturday). They will continue to exchange old currency notes but this will be done only for senior citizens (above 65 years). No exchange will take place tomorrow for the other citizens.
This decision will aid senior citizens who had been adversely affected by the demonetisation move by the Centre. Following the long queues and not being accorded separate lines, many senior citizens suffered with some even losing their lives.
Speaking to media, Rajiv Rishi said that old currency notes would be replaced tomorrow only for the senior citizens. He further added that banks need to remain closed on Sunday for a complete clean-up of operations.
Commenting on the incident a government official said, “The collection of money by the banks has soared up in an unprecedented manner. Though the deposits by the people are cheering up the banks, the exchange of notes is clogging up banking operations.”
Supporting PM Modi’s demonetisation move to curb the black money existing in the country, a government official said that the government has emphasized that the move had to be abrupt in order to ensure that those hoarding black money did not have time to channel it into assets.