Not many were seen lining up at banks to exchange ₹2000 notes on Tuesday as they opened the window for the swap.
Speaking to The Hindu, many bankers said the response from the customers had been minimal. Apart from the confusion over the rules of the exchange, a major reason cited by the customers is the likelihood of their accounts getting under the IT Department’s radar. Those willing to play safe are adopting a ‘wait and watch’ policy, as the deadline is for September.
“The customer footprint concerning the exchange of ₹2000 notes is meagre,” said K. Sailendranath, Andhra Pragati Grameena Bank (APGB) Assistant General Manager and in-charge of Tirupati and Nellore districts. He, however, expects the number to rise in the coming days after the customers develop clarity and confidence about the process.
