Posted On November 14, 2016 By In Business And 295 Views

Banks closed today

Hyderabad: Even as people waited in long queues at bank branches and ATMs on Sunday to wriggle out of the ‘cash chaos’ created by the Central government’s demonetisation scheme, banks will remain closed on Monday on account of Guru Nanak Jayanti. All the banks functioned on Saturday and Sunday, both being regular holidays, to clear the extra rush in the wake of withdrawal of Rs 500 and Rs 1,000 notes. However, over 100 branches of State Bank of Hyderabad (SBH) transacting the Telangana government business will remain open for ‘the limited purpose of accepting payments from the citizens towards the government and local bodies dues’, according to an official release from the TS government. The Finance Ministry has increased the limit on exchange of old notes from Rs 4,000 per day to Rs 4,500 per day. Weekly withdrawal cap has also been hiked from Rs 20,000 to Rs 24,000, whereas ATM withdrawal limit has been increased from Rs 2,000 to Rs 2,500 per card in a day. Also, the limit of Rs 10,000 on daily withdrawal has also been removed.

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