Demonetising affects business in the city
Posted on: 12/Nov/2016 12:37:21 PM
Business has been affected in commercial areas of the city including Sowcarpet, Pursawalkkam, Egmore and T Nagar. While traders spent a large amount of time changing demonetized currency, banks located in this area saw large crowds that became unmanageable as the day went by,
An official of the Purasawalkam Branch of Indian Overseas Bank says, About 2,800 people visited our branch on Thursday of whom 1,300 exchanged old notes of Rs 4,000. It was a tough day with public visiting our bank throughout the day and some of my colleagues even skipped their lunch, as the counters were full till late evening. We deployed all our resources to ensure maximum transactions.
A senior staffer of the ICICI Bank in Vepery said, The crowd was manageable till 11.00 am but then the Internet and bank servers got slow and delayed transactions. My colleagues worked beyond their optimum capacity considering the public interest.
Traders were concerned about changing currency. Says one trader from Periamet, I had demonetised currencies amounting to Rs 80,000 in hand after depositing the old currencies, I was able to withdraw only Rs 14,000 - Rs 4,000 by exchanging notes and another Rs 10,000 using my cheque - but all my payments and transactions had been adversely affected.
