Cash crunch: More pain ahead! Banks to remain closed for 3 consecutive days

New Delhi: The upcoming bank holidays for three consecutive days could further add to the woes of people amidst existing cash crunch situation in the country.

From tomorrow, banks will remain closed for three days.

Tomorrow is second Saturday, Sunday is the regular holiday while on Monday banks will remain closed onaccount of Milad-Un-Nabi or Id-E-Milad

Following demonetisation of old Rs 500/1,000 notes from November 9, huge rush was being witnessed in banks all over the country for depositing the currency. Serpentine queues were seen outside banks as people jostled to get lower denomination currency and new banknotes to pay for their daily basic needs.

But with the stoppage of over-the-counter exchange of scrapped currency notes, more people are now queueing up in front of ATMs amid continuing cash crunch, while the rush eased out at banks much to the relief of their employees.