People scramble,panic for notes exchange

People scramble,panic for notes exchange
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The Centre has asked all states to ensure proper security to all banks, ATMs and vehicles transporting cash in the wake of demonetisation of `500 and `1,000 currency notes.

The scramble by millions of panicked consumers to exchange banned currency or deposit them turned tragic when three people died in separate incidents in Maharashtra and Kerala amid chaos for the second straight day with poor cash flow.

As banks across the country struggled to contain serpentine queues, Congress vice-president Rahul Gandhi also took people by surprise when he visited SBI’s Parliament Street branch in Delhi to exchange banned notes with new ones.

People scramble,panic for notes exchange

There were no signs of relief even as several people were told to go back after bank servers at several branches reportedly collapsed while several ATMs went dry in a few hours. People who were able to exchange the old currency could get hold of the new notes only after waiting for hours.

The home ministry has deputed three officials to be in touch with state governments to ensure security of banks, ATMs and cash transporting vehicles.

The three officials are taking regular feedbacks from the directors general of police and the situation in respective states, a home ministry official said.

So far no report of any violence or untoward incident has come from anywhere in the country. “We have conveyed to the states that if they require any assistance, we will provide immediately,” the official said.

People scramble,panic for notes exchange

The central government is expecting the financial situation to be normal in the next four-five days. Two separate advisories were sent to all states in this regard, the official said.

Chaos and confusion reigned at most banks across the country with harried customers having to stand in winding queues for hours on end for withdrawing or exchanging demonetised notes. Their problems have been compounded with a large number of ATMs being non-functional or getting emptied soon after being replenished.

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