Indian Banks' Association on Friday said all banks will serve only their respective customers on Saturday and will not exchange the old Rs 500 and Rs 1,000 notes from customers of other banks. And tomorrow we will not be doing exchange of notes (for outside customers)," IBA chairman Rajeev Rishi told reporters. He, however, said senior citizens are exempted and they can go to any bank branch to exchange notes tomorrow. According to sources, the government had allowed exchange facility in the beginning to ensure liquidity remains in the market. The exchange facility, according to officials, was being misused by some to exchange their black money.

Source: dna November 18, 2016 15:09 UTC