1. Long queues at banks to exchange old notes
Long queues were seen outside banks across the country and also at RBI counters for replacement of old Rs 500 and 1,000 notes on Thursday. Banks have made additional arrangements for exchanging cash and deposit of old high denomination notes in order to handle heavy rush. Banks have been asked to be open on weekends including Sunday to deal with the situation.
2. No harassment over small deposits under demonetisation: Jaitley
Finance minister Arun Jaitley on Thursday said nobody would be harrassed over smaller deposits — less than Rs 2.5 lakh — as people began thronging banks nationwide to exchange or deposit Rs 500 and 1,000 currency notes that have been demonetised. “Nobody will face questions or harassment for small deposits,” Jaitley said
3. Jaitley said people might face problems initially but in the medium to long run they will definitely benefit from the government’s policy of demonitising large currency notes in a bid to curb corruption, unaccounted wealth and terror financing.
4. It is only those with large amounts of undisclosed money who will have to face the consequences under existing laws, Arun Jaitley said.
5. New Rs 1,000 notes with extra security features in a few months
Government will re-introduce Rs 1,000 bank notes in a few months and also issue new series of lower denomination bills with enhanced security features. “In a few months, Rs 1,000 notes with new features will be brought into the market,” said economic affairs secretary Shaktikanta Das said.
6. New notes of all denominations with added security features
The currency notes of lower denomination of Rs 100 and Rs 50 will continue to be the legal tender, economic affairs secretary Shaktikanta Das said said, adding the Reserve Bank will come out with new series of such notes with new design and added security features. He said the RBI, time and again, has been introducing new series of currency notes with new design and enhanced security features.
7. Craze for selfie with Rs 2,000 note catches on
Posing with the new Rs 2,000 currency note is the latest trend to hit India, with people taking to social media with the freshly-minted notes. #Rs2000 is currently viral on Twitter, Instagram and Facebook along with photos and morphed selfies with RBI governor Urjit Patel.
8. Random checks by RBI officials
“Special squads of RBI officials are conducting random checks in the bank branches and keeping a tab on the developments,” a senior official of Union Bank of India said.
9. Extra police deployment
Addition personnel of paramilitary and police along with quick reaction teams have been deployed across cities for maintaining security in banks in view of rush of people to exchange the now-invalid currency notes of Rs 500 and Rs 1,000
10. SC to hear plea against demonetization of notes on Tuesday
The Supreme Court on Thursday refused to grant an urgent hearing on a PIL challenging the Narendra Modi government’s decision to demonetize high denomination notes of Rs 500 and Rs 1,000. Apprehending that the court may pass interim order on the issue, the Centre has filed caveat in the apex court which means that no order could be passed by court without hearing government contentions. The petition, filed by a lawyer, alleged that sufficient time frame had not been given for the transition and it would create unprecedented chaos and panic among people.