After the demonetisation of Rs 500 and Rs 1000 notes a huge crowd gathered outside the banks in Mumbai waiting to exchange the scrap notes. People across the country started queuing up outside banks and ATMs on Thursday to get new currency notes in exchange of Rs 500 and Rs 1000 notes that have been abolished by the government.

The Reserve Bank of India (RBI) launched new Rs 500 and Rs 2,000 currency notes from Thursday, following to which a huge crowd is gathered outside the bank which opened today after a day’s break following the demonetisation of Rs 500 and Rs 1000 notes.

The people in Mumbai started queueing up early in the morning at around 6.00 am, nearly 4 hours before the banks opens. Many Mumbaikars have taken leave from the office and reached bank to deposit the scrapped notes.

Crowd is gathered outside the bank in Mira Road.  (pic credit: Mohit Naik)

Crowd is gathered outside the bank in Mira Road. (pic credit: Mohit Naik)


Several banks in Mumbai branches were witnessing unprecedented huge rush and therefore, they sought the deployment of police personnel outside the banks to deter any unwanted circumstances.

Speaking with Mumbai Cutting, Seeraj Nair, a resident of Mira Road who went to deposit scrapped notes at Co-Operations Bank of Mira Road branch said, “I received my salary last month plus cashed out money to get a bike. After this new I have been quite tensed how to get this money exchange.’

According to the PTI report, many banks are facing liquidity crises. As and when the RBI supplies us sufficient notes we would start disbursing the notes with full permissible limit. The bank has opened additional counters and had cancelled the leaves of the Staff after the RBI ordered all the banks to remain open across the country to work on this coming Saturday and Sunday.

Many people who approached post office branches were seen displeased as they were unable to exchange the now defunct currency notes. 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 told PTI.