Demonetisation travails continue even as govt says it’s printing more Rs 500 notes

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Even after over a month of demonetisation, cash starved people continued to queue up outside banks and ATM kiosks on Thursday while the Union government said it was focusing on printing new Rs 500 notes to ease the liquidity situation over the next 2-3 weeks.

Continuing the crackdown on black money, the Income Tax Department raided two branches of a private bank in the national capital region unearthing 20 fake accounts while officials recovered Rs 10 crore from several lockers of a bank in Pune.

Serpentine queues at banks and ATM kiosks have become a daily affair since the Narendra Modi government’s November 8 decision to spike high-value currency notes. There was no change in the routine across the national capital as people from all walks of life endeavoured to lay hands on much needed cash.

There were also altercations among the customers and officials after some of the bank branches ran out of money. Many customers complained that they were never informed if there was any cash left or not.

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