Banks 292 views
On 8th November 2016, PM Modi surprised everyone with the announcement of banning Rs. 500 & Rs. 1000 notes. To do the required changes as per the RBI guidelines, all banks were closed on 8th November and ATMs on 8th & 9th November.
On 10th November 2016, Urijit Patel, the RBI Governer posted on Facebook –
State Bank of India becomes first bank to replenish it's ATMs. The state bank ATM are dispensing Rs. 100 notes. People in need can go to SBI ATM attached to SBI branches to take currency to meet day to day expense
For sure, it is quite tough to manage without ATMs in today's time. Well, the wait is over now as State Bank of India has become the first bank to replenish its ATMs with Rs. 100 notes and has said that around 28,000 of its ATMs are working right now. State Bank of India has declared that most probably the rest of the ATMs will be accessible from tomorrow onwards for the convenience of people.
For some days, the cash withdrawals from the SBI ATMs will be restricted to Rs. 2,000/- per day per card. However, the limit will be extended to Rs. 4,000/- shortly.
An interesting perspective on the ongoing currency crisis !
When we had Rs. 1000 in our wallets, we never bothered about saving Rs. 100 notes. But, today after the ban on big notes, everyone is busy in collecting 100 Rupee notes. And, no matter how high the currency limit goes, 100 Rupee note has always been the king of all. After this great step against corruption, India might have to face some trouble in the initial days. But, nothing comes for easy and we all to have to stand together and support this decision.