Either the branch manager relaxes norms to let in deposits of above Rs 50,000 in high currency notes or eases up on the norms for not letting in third parties file deposits on behalf of someone else
The shortage came a day after PM Modi announced demonetisation of Rs 1,000 and Rs 500 currency notes with effect from Friday night
Wallet and digital payments come handy and make your life less troublesome
The demonetisation led to an expected chaos at petrol pumps, metro stations, toll plazas, as people were wary of accepting notes of these denominations
Real Estate, Consumer Durables, Jewellery and non-banking finance sectors will be impacted the most in the short term due to shortage of high denomination currencies
RBI FAQ on the note withdrawal scheme
Banks will remain closed on Wednesday in order to withdraw the existing notes from counters and ATMs
16.5 billion Rs 500 notes and 6.7 billion Rs 1,000 notes would go out of circulation
Move to withdraw Rs 500 and Rs 1,000 currency notes from circulation is expected to have a negative impact on the stock markets
The country had earlier demonetised 5 and 500 denomination notes
Reports about huge stashes of black money for political purposes have swirled in UP
Shares of consumption and real estate could come under pressure