India acts to help farmers hit by black money crackdown

India acts to help farmers hit by black money crackdown

However, she said, the machines are "being recalibrated on a war footing" to be able to dispense the new notes, which need different-sized trays than the older currency.

Despite claims of availability of additional Rs1,100 crores on Sundayevening, most of the ATMs across the city were found dysfunctional on Monday, adding worries to cash-starved commoners. There have been long queues at Banks and ATMs, as people wait patiently to exchange the money or draw some cash from the ATMs to cater to their monthly and daily needs. Cash withdrawal limit at ATM's was hiked to Rs 2,500 from Rs 2,000 a day.

The government extended use of old defunct Rs 500 and Rs 1,000 notes for paying household utility bills, fuel, taxes and fees and purchases from cooperative stores till November 24. Even many News TV channels showed the video clips of brawls outside banks and ATM. Today being a bank holiday in northern and western India, long queues are expected tomorrow with people wanting to withdraw money or swap the old 500 and 1000 rupee notes.

Meanwhile, Government yesterday said that it has set up a task force under the chairmanship of RBI Deputy Governor SS Mundra to ensure that ATMs across the country are ready to dispense higher denomination notes (Rs 500 and Rs 2000) in the shortest time.

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However, recalibration of the machines for the new Rs 2,000 notes might take more time.

- Banks will have separate queues for senior citizens and differently-abled people, those who want to conduct transactions against accounts held with the bank, and those who wish to exchange notes. Seeing the problems faced by public, government announced the cash withdrawal limit from Rs 4,000 to Rs 4,500. Others will continue to be restricted at Rs 2,000 a day. Cash withdrawal from current accounts, which have been in operation for at least three months, has also been restricted to Rs 50,000 in a week, a notification said.

The Indian government's decision to demonetise high-value banknotes of Rs 500 and Rs 1,000 eight days back has resulted in deaths of 47 people across the country, according to local media reports.

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