People in Delhi continued to face difficulties in paying for household items, essential commodities and vegetables as they ran out of savings of small currencies while it was tough to get cash from banks which opened after a day's break, due to huge rush and long queues.
While serpentine queues were witnessed at banks across the city where people thronged to exchange Rs 500 and Rs 1000 for new currency, some of the banks ran out of cash. In many areas, people were seen queueing up outside banks even before they opened for business.
"First I had to wait for four hours to get new currency of Rs 4000 then I still could not buy anything because I just had two notes of Rs 2000. As the lower currency notes are available in limited quantity nobody could give me change," Bharti Raghav, a housewife said.
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The city has been witnessing chaos and anxiety since Tuesday night after government announced to withdraw Rs 500 and Rs 1000 notes.
People are particularly facing difficulties in buying milk, vegetables, medicines and other daily essentials and in commuting in auto-rickshaws and taxis.
Citizens in many areas were seen fuming over having to wait in long queues in banks and ATMs for hours on a working day.
Security was also beefed up in banks in view of the rush of people. As many 3,400 personnel of paramilitary and Delhi Police along with quick reaction teams have been deployed across the national capital for maintaining security in banks.
"Despite having money with us, we are struggling for basic necessities as grocery stores, vegetable vendors and other stores are not accepting Rs 500/1000 notes. I had to take leave from office to exchange notes as there is such a long queue that my turn will not come before another 3-4 hours," said Kumkum Bhargav, a primary school teacher.
Kunal Bhardwaj, a TCS employee said, "Those who have blackmoney will anyway find methods to get away. It is common man who will suffer. Now we have no option other than waiting in queues as there is no money for basic things as well".
Following Prime Minister Narendra Modi's announcement to withdraw the high denomination notes, the banks were ordered to remain closed yesterday to realign and reload new Rs 500 and Rs 2,000 currency.
Banks have been asked to be open on weekends including Sunday to deal with the situation. The ATMs will resume functioning from tomorrow but there is a limit of withdrawal of Rs 2000 per day which is expected to be increased in coming week.
Banks have been asked to be open on weekends including Sunday to deal with the situation. The ATMs will resume functioning from tomorrow but there is a limit of withdrawal of Rs 2000 per day which is expected to be increased in coming week.
Major markets and shopping complexes reported marginal trading due to shortage of cash.
"There are around 9 lakh small traders in the city who have been hit directly by withdrawal of the notes. All the major markets including Chandni Chowk, Sadar, Lajpat Nagar, Sarojini Nagar, Khan Market, Khari Baoli have been affected as buyers have no money to spend," said Brijesh Goyal, convener of Chamber of Trade and Industry.
Traders in various markets complained that either there were no customers and those who were coming to buy things were bringing Rs 500 and Rs 1000 notes which are "useless" now.
"Nearly 80 per cent of the market including grocery, garment, transport, bullion, hotels and restaurants and other businesses have been hit. Work has stopped at all the markets with traders preferring to sit at home and wait for situation to normalise," Goyal said.
Transporters in the city also expressed concerns that the plying of trucks on the road will be hit soon as cash is not available in adequate quantity in the market.
"Maximum withdrawal limit is Rs 10,000 which is inadequate to meet the expense of plying a single truck on the road. What will happen to those transporters who have larger number of trucks. The transport of goods between Delhi and other parts of the country is likely to severely hit in coming days," said Rajender Kapur, president of Delhi Goods Transport Organisation.
