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Huge rush in banks to exchange currency

Huge rush in banks to exchange currency

Kozhikode: Long queues were witnessed outside nationalised and private banks in the state on Thursday to exchange the now defunct currency notes.

"All the SBI branches will work an extra two hours for two days from today (Thursday) and will also remain open over the weekend to help customers queuing up to deposit their old Rs 500 and 1,000 notes," bank officials said.

Other banks like SBT, Federal Bank, and South Indian Bank too have opened special counters in all the braches to exchange the large currency notes. However, many banks are relying on Rs 50 and Rs 100 notes as they are yet to get the new currency notes.

ICICI Bank has also announced the extension of its branch timings across the country by two hours on November 10 and 11.

Meanwhile, the officials said that the new currency notes of Rs 2000 and Rs 500 will be available at ATMs only after Friday.

The banks reopened a day after they did not transact any business following the government's decision that invalidated Rs 500 and 1,000 currency notes to curb corruption, unaccounted wealth and terror financing.

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