Troublesome Thursday: How the first day of Rs 500, Rs 1000 exchange panned out

People across the country queued up outside banks and ATMs on Thursday to get new currency notes in exchange of Rs 500 and Rs 1000 notes that have been abolished by the government.

Delhi Police have made adequate arrangements to ensure law and order and smooth demonetisation process in the national capital.

Fearing a jump in footfalls to deposit or withdraw cash following the demonetisation, banks will remain open this Saturday and Sunday and its staff will do overtime till 9 pm for the next three days to clear the rush.

The government on Tuesday had demonetised the Rs 500 and Rs 1,000 notes as part of its efforts to clamp down against the black money, fake currency and terror financing.

Take a look at what happened on Thursday

•Minister of state for home affairs says the govt decision will stop terror funding and circulation of fake currency. This step will break the bones of terror organisation, he says.

• Delhi chief minister Arvind Kejriwal questions the government’s move to scrap Rs 1000 notes and introduce Rs 2000 notes instead. “I don’t understand one thing, how you end corruption by banning Rs 1000 notes and introducing Rs 2000 notes,” ANI quoted him as saying.

• Reports emerge of customers requesting banks to issue more than Rs 4,000.

• Arun Jaitley says nobody would be harassed over smaller deposits -- less than Rs 2.5 lakh.

•In Ranchi, Old HB road connecting Lalpur-Kokar choked for hours after the customers’ queue extended up to the main road half-an-hour before the bank’s opening. With opening of the bank, security personnel were deputed to prevent any untoward incident. Fifty-year-old Geeta Devi said, “I have no money at home. I came early so that ration for lunch could be purchased.”

•There were unprecedented traffic jams and long queues outside the banks in Jaipur. Banks witnessed chaos as people rushed to submit identity proofs and fill forms. “I had come to bank at 10 and since then I am running from one counter to other for fulfilling the formalities. The staff is cooperating but it is taking too much time,” said a customer, waiting at the counter to deposit money.

• Trying to ensure requisite replacement currency is available with people at the earliest; no need for people to rush, says finance minister Arun Jaitley.

•Over 3000 paramilitary and police personnel, quick reaction teams deployed in Delhi for security in banks.

Banks witnessed highest-ever footfall as long queues were formed hours before the branches opened. “I am standing in the queue since 8.45 am and waiting for the bank to open. The bank said they did not have R 2000 notes so I got R 4000 in denomination of R 100 currency notes,” said Abhijit Sachdeva, a resident of Ghaziabad.