New Delhi: Many private as well as government sector banks are closed today due to Guru Purnima celebrations throughout the country.
Although there is no holiday in several states like Karnataka, Andhra Pradesh, Tamil Nadu, Odisha and Bihar, cash-strapped people started making beeline outside ATMs from early morning but with limited success as most of cash vending machines are running dry.
On other hand some people caught having clash with others outside the banks and ATM machines from many parts of the country.
Many small traders, restaurant owners, transporters and several others have started feeling the heat as the dependence on cash is very high.
Banks are unable to service as heavy rush making it difficult to handle the situation.
Then government of India issued advisory to banks to making special arrangement for elderly and physically challenged peoples.
To deal with shortage of cash supplies, newly printed Rs 500 notes were also released in market.
The Indian Prime Minister Narendra Modi on last Tuesday night announced the sudden demonetisation of higher denomination notes during his address to nation on television.
After a review by Finance ministry the limit of old banned currency of Rs 500 and 1,000 notes that can be exchanged for freshly minted Rs 2,000 and new Rs 500 notes was increased from Rs 4,000 to Rs 4,500 yesterday.
In relief to common man the government has announced easing of cash withdrawal limit at ATMs was hiked to Rs 2,500 from Rs 2,000 a day.