• Saturday, May 21, 2022

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India banks reopen to long queues after rupee withdrawal

A customer with the new Rs 2000 note in India’s northeastern city of Agartala

By: Eastern Eye Staff

Long queues formed outside banks in India on Thursday (November 10) as they reopened for the first time since the government’s shock decision to withdraw the two largest denomination notes from circulation. Some banks in the capital New Delhi had received the new Rs 2,000 (£24) bill and a number of ATMs were working again, two days after prime minister Narendra Modi announced the Rs 500 and Rs 1,000 notes would no longer be legal tender in a blitz against tax evasion and corruption. Modi’s Tuesday evening bombshell prompted a late night rush on cash machines as customers withdrew smaller…

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