People in Salem exchange notes without chaos and panic

Salem,Nov11:Even as people thronged all the bank branches and the post offices across Salem to exchange the Rs. 500 and Rs. 1,000 notes throughout the day, the opening of adequate special counters and tight security arrangements saw the day through without any chaos.

A cross section of people, who patiently waited in the banks, expressed satisfaction at the arrangements made.

People came to the banks with the identity card and its photocopy even before the bank branches opened for the day’s business in both the urban and rural areas alike.

Expecting huge crowd, all the branches opened two or more special counters especially for the exchange of higher denomination currency. A special arrangement at the entrance to explain to people the formalities to be adopted at the entrance was in place in all the branches, which made the job of the anxious customers easy.

Many people were disappointed as a majority of the bank branches did not disburse the new Rs. 2,000 notes. Only a few bank branches gave the new currency. However, people expressed satisfaction that the banks disbursed Rs. 100, Rs. 50 and Rs. 10 denomination notes up to Rs. 4,000.

When contacted, senior officials of various bank branches said that they did not get adequate Rs. 2,000 currency.

Due to the crowd, some bank branches in the city ran short of the money by noon itself.

The customers were assured of the new currency or lower denomination notes on Friday.

The bank staff posted at the front office, the security personnel and the police men gave adequate information to the customers about the special counters, the denominations available, forms to be filled, documents to be attached to them, which was well appreciated.

The other regular activities such as depositing and withdrawal of money went on as usual, according to the bank authorities.

The two head post offices in Salem city and in Suramangalam and also the other post offices opened special counters for the benefit of its customers. About 10 special counters were opened at the head post offices, including counters exclusively for women. Midway through the Salem HPO ran short of money.

The waiting people were issued tokens and the money disbursement was resumed after adequate money was received from the banks.

K. Swaminathan, president of the Salem District Bank Employees Association affiliated to the AIBEA, expressed satisfaction at the arrangements and commended the bank staff for performing an exemplary job under trying circumstances.

Adequate police personnel were posted near all the banks to regulate the crowd. The senior officials visited the branches at regular intervals to monitor the situation.

New currency

People who managed to collect the new Rs. 2,000 currency in exchange of the old notes on the very first day were totally delighted. Many of them came out of the bank premises displaying the new currency to those waiting outside.

Some of them are disappointed that they did not get new Rs. 500 note.

In Namakkal district too, the situation remained the same.


In Erode, people queued up at the branches of banks and the head post office for depositing/ exchanging old currencies. There was no panic syndrome, and the account holders waited patiently for their turn.