Pcture by Prem SinghNew Delhi, Nov 10 (PTI): Long queues were seen outside banks across the country and also at Reserve Bank of India counters for replacement of old Rs 500 and 1,000 notes as banks opened on Thursday after demonetisation of such bills by the government on Tuesday. Following the decision, banks were shut on Wednesday to stock lower denomination cash and new security-featured Rs 500 and Rs 2,000 notes. Banks have made additional arrangements for exchanging cash and deposit of old high denomination notes in order to handle heavy rush. People have have been allowed to exchange old notes of Rs 500 and Rs 1,000 at any bank or head post office or sub-post office with a daily limit of Rs 4,000 while showing ID proof up to November 24. People, however, can deposit the old notes of Rs 500 and Rs 1,000 in banks or post office accounts from November 10, till December 30, 2016 without any limit.

Source: The Telegraph November 10, 2016 06:52 UTC