ATMs remain dry, Queues outside banks; Demonetization turning out to be a huge scam says Arvind Kejriwal


Delhi Chief Minister Arvind Kejriwal on Saturday said that the demonetization is turning out to be a huge scam. Taking to micro-blogging site, Arvind Kejriwal said,”From evidence pouring in, demonetization is turning out to be a huge scam. Will present evidence at 10 am in a press conference.”

Earlier, Kejriwal had questioned the logic behind the introduction of Rs. 2000 notes saying it will fan corruption and the black money economy instead of containing it and that demonetization has hit the common men hard.

Meanwhile, long queues are being witnessed at banks and ATMs, as people rushed to get new banknotes in lieu of their old defunct bills.

Many ATMs ran out of cash as there were heavy rush to withdraw lower denomination currency. Most of the machines were equipped to tender Rs.100 notes, while some were still not working.

Banks are saying that they are trying to recalibrate their machine for higher denomination notes, it will take some days before they start tendering new high security Rs.500 and Rs.2000 notes which is expected to ease pressure.

The Central government is expecting the financial situation to be normal in the next four-five days. But for now the government on Friday extended the use of old Rs.500 and Rs.1,000 notes for paying household bills utility bills, fuel, taxes and fees as well as purchases from co-operative stores by another 72 hours to 14 November as it struggles to make available alternative currency.

While withdrawing Rs. 500 and Rs.1,000 notes from the night of 8-9 November, the government had allowed use of the old currency at government hospitals, railway ticketing, public transport, airline ticketing at airports, milk booths, crematoria/burial grounds and petrol pumps for next 72 Hours.


About: prashant kumar

Prashant covers daily news at Updates Junction. He writes about Gadgets, Sports, Science, Automobiles, Politics and other hot topics. He is a tech geek and have a keen interest in smartphones. When not working, he loves to watch TV shows and explore the world by travelling.

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