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Police allay fears of people
Police made elaborate arrangements at all the banks to control the public. Even two hours before the reopening of banks, there were serpentine queues at all banks carrying the copies of Aadhaar card, voter cards et al.
Visakhapatnam: Heavy rush was witnessed at all the public and private sector banks on the first day of reopening of banks for exchange of high denomination notes and depositing cash.
Police made elaborate arrangements at all the banks to control the public. Even two hours before the reopening of banks, there were serpentine queues at all banks carrying the copies of Aadhaar card, voter cards et al.
Police allayed the fears of people stating that they will get cash in exchange of big notes and there is no question of panic as banks will accept the notes till December 30.
The workers of unorganised sector are the worst-affected with the lack of small denominations to meet their daily needs. Farmers were also worrying to engage labour for crop cutting and other farm works as they were not accepting big notes.
The micro-financiers were also in a fix in collecting daily collections since the petty vendors were offering Rs 500 and Rs 1,000 notes. As the financiers also have no smaller denominations, they were not accepting the big notes even on Thursday too. It was expected in a day or two the situation will come to normal.
When contacted, DIG of Stamps and Registrations T Saroja informed that only 77 land registrations were done on the Day-1 on Wednesday in all 19 sub-registrar offices in the district that too for those who had already made online payments in advance.
She said that no online payments were made by the parties on Wednesday for registrations with the closure of all banks, gradually the situation will improve in a couple of days.
Experts feel that real estate boom will drastically come down. Meanwhile, an official release from the Visakh Refinery, HPCL said on Thursday that all retail outlets and CNG stations of Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, Gas Authority of India Limited and other public sector oil companies will accept Rs 500 and Rs 1,000 currency notes from the customers while purchasing oil products till the midnight of November 11.
It also said that all LPG distributors of IOL, BPCL and HPCL will accept the big notes while purchasing LPG till the midnight of November 11 and there is no shortage of petroleum products. It urged the public not to panic to purchase required quantities of oil.
