After demonetization of Rs 500 and Rs 1,000 banknotes, the Government said that new Rs 50 and Rs 100 notes also coming with new design and security features. Economic Affairs Secretary Shaktikanta Das told that government taking a decision for this time without withdrawing the existing ones.
It is really relief to the common man who has been waiting in the queue- lines in front of banks for hours to exchange their money. The Government demonetized Rs 500 and Rs 1,000 notes from November 8 midnight. New notes of Rs 500 and Rs 2,000 denomination are being issued starting Thursday in banks and post offices. No new Rs 1,000 notes are being issued immediately. Lakhs of anxious people stand before the banks and post offices on Thursday to exchange their old Rs 500 and Rs 1,000 notes. Most of the private and public sector bank branches were seen rushed with customers. All banks have been directed to work for 12 hours on Thursday, Friday, Saturday and Sunday to clear the rush of desperate customers for exchange transactions and, if required, remain open even next Sunday (November 20). Even ordinary activities of trade and commerce, grocery shops, saloons, multiplexes, malls and others came to a standstill on Thursdays in the near-total absence of customers as they ran short of lower denomination currency notes.