Following the 8 November announcement by the Modi government of demonetising the Rs 500 and Rs 1,000 notes, the banks were faced with an almost insurmountable challenge. People are still facing problems queuing up in long lines outside ATMs and Bank branches in order to exchange old notes.

Meanwhile, there is a good news and bad news from State Bak Of India. SBI issued a notice that there will not be any currency exchange at SBI branches on 19th i.e, tomorrow. However, Arundhati Bhattacharya, the Chairperson, State Bank of India stated that SBI is going to proceed currency exchange for Senior Citizens tomorrow.

Also Read: Bill Gates Reaction On Pm Modi’s Demonetisation Move

Banks across the country will remain open on Saturday and follow normal working hours to complete pending work, but only senior citizens will be able to exchange notes at bank branches, said Rajiv Rishi, Chairman Indian Banks’ Association (IBA).

Rajiv Rishi, the Chairman of the IBA said: “Banks tomorrow won’t be doing the exchange of notes at bank branches, only senior citizen can exchange their notes. All other services at banks will be operational & tomorrow we will complete our pending work.”

“For the last 10 days, bank employees had been totally occupied handling the demonetization. We have decided to give them some relief,” said K Unnikrishnan, the acting CEO of Indian Banks’ Association.

However, there is no proposal as of now to stop the exchange of old 500 and 1000 rupee notes for new currency at banks, government officials have said. The banks already started putting an indelible ink mark on the fingers of people, after they have exchanged their notes. Yes, this is basically for preventing repeated conversions!

State Bank Of India giving chance to senior citizens to visit banks on Saturday and exchange their currency notes. While others are panicked with the announcement and are afraid that they are going to put an end to the currency exchange by this week. Dear users please do not panic. They are just giving a chance to senior citizens because they are finding it more difficult to visit banks amidst of this long wait before the banks.

Also Check: New Demonetization Rules