All roads lead to banks across Kashmir, De-monetization triggers Queues, Chaos and Confusion

Amid unrest, customers make beeline to exchange or deposit Rs 500, Rs 1,000 notes
People throng banks to exchange old notes
Hospitals, Petrol pumps, BSNL offices refuse to entertain old notes

Huge rush and long serpentine queues were witnessed in Srinagar and other parts at banks on Thursday as people jostled to get lower denomination currency and new banknotes to pay for their daily basic needs.
Almost all banks in Srinagar and other parts of the Valley witnessed huge rush and long serpentine queues as people wanted to exchange the scrapped Rs 500 and 1000 notes for new banknotes.
“I had to wait for an hour at a bank in Srinagar to exchange my old currency notes for new ones to pay for my daily basis needs,” said Mukhtar Ahmad of Batamaloo.
People complained that they faced tough time to get lower denomination currency to buy daily items and other essentials as shopkeepers and traders refused to entertain the high denomination notes.
“I had to buy some essential commodities from the market. However, nobody was ready to accept the Rs 500 notes,” said Basit Ahmad of Khanyar.
He said he had to wait for an hour in a queue in a bank to change his old bank notes valuing Rs 4000 for new ones.
An elderly person Ghulam Ahmad said he went to a bank branch in Srinagar at around 3 pm to exchange the old currency notes. “The bank employees told me that you can deposit the amount in the account. When I told them I wanted some change, they said they have got no such order”.
“When I pressed them that I should be given new denomination or lower denomination current notes for exchange of old notes valuing Rs 4000 and told them that I read in newspapers today that banks would be giving new denomination notes, the official relented and gave me one new Rs 2000 denomination note and 20 notes of Rs 100,” he said.
Shoeb Ahmad of Rajbagh said he got x-ray of his father conducted at Modern hospital.
“When I went to deposit fee of the x-ray, the hospital refused to entertain old Rs 500 note. Despite my pleas, the hospital refused to entertain the note. I had to rush back to home and somehow managed to get three notes of Rs 100 to clear the hospital bill,” he said.
People complained that BSNL offices and some petrol pumps refused to entertain the old notes of Rs 500 and Rs 1000.
People had to visit the bank branches to get the lower denomination currency and new banknotes as ATMs remained shut for second consecutive day today after Prime Minister Narendra Modi on Tuesday night announced withdrawal of Rs 500 and 1,000 notes from circulation.
People in New Delhi and other parts of country also complained of having to wait for a long time before they could replace old higher denomination notes or withdraw from their bank accounts using pay-in slips or cheques.
Besides banks, select post offices were also replacing old high denomination (OHD) currency notes of Rs 500 and Rs 1,000 with new Rs 2,000 banknotes.
People seemed excited after getting new Rs 2,000 notes from banks and clicked pictures holding the new banknotes in their hands.
Some, however, complained of the restrictions placed on exchanging OHD and withdrawals from the banks. Many felt the government should have done all preparations, including stocking ATMs, before announcing the decision.
Only a maximum of Rs 4,000 per person in cash irrespective of the size of tender was being given per person after submission of valid identity proof. Anything over and above this value was credited to bank account.
Banks set up additional counters to change cash as also allow withdrawal from bank accounts through cheque or withdrawal slips with a ceiling of Rs 10,000 in a day within an overall limit of Rs 20,000 in a week (including withdrawals from ATMs) for the first fortnight i.e. up to November 24.
Once the ATMs are fully functional, withdraw up to a maximum of Rs 2,000 per card per day up to November 18, 2016 will be allowed. The limit will be raised to Rs 4,000 per day per card from November 19, 2016 onwards, bankers said.
Banks have been ordered to remain open on the weekend as well as function late till 9 PM for three days beginning today to deal with the huge rush.