In a move to bring respite to senior citizens in the country, Indian Bank Association on Friday announced that only senior citizens will be allowed in the banks to exchange old notes of Rs 500 and Rs 1,000. Except for senior citizens, no other person will be allowed to exchange old notes on Saturday.
"Banks on Saturday won't be doing exchange of notes at bank branches, only senior citizen can exchange their notes, however, all other services at banks will be operational," said Indian Bank Association, Chairperson Rajiv Rishi.
Here are the live updates:
UP: Senior citizens queue up outside banks in Lucknow to withdraw/exchange money pic.twitter.com/4BClblx65Lâ€” ANI UP (@ANINewsUP) November 19, 2016
Reportedly, the decision to stop exchange of currency on Saturday has been taken to let the banks complete the pending work.
Earlier on Friday, however, dispelling reports that government might stop exchange of old currency notes, ANI on Friday tweeted, â€œAs of now there is no proposal to stop exchange of old currency notes, Official sources.â€