New Delhi: The Union Finance Minister Arun Jaitley today said that people can withdraw the new series of Rs 500 and Rs 2,000 notes from the ATMs from midnight of Thursday.
Jaitley told television news channel in an interview, “ATMs will start functioning from today (Thursday) midnight. People can withdraw the new currency notes.”
The government of India banned currency of Rs 500 and Rs 1,000 notes from Tuesday (November 8th) midnight.
The new notes of Rs 500 and Rs 2,000 value are being issued from Thursday in banks and post offices.
Millions of worried people made long lines in front of banks and post offices on Thursday to exchange their old Rs 500 and Rs 1,000 notes.
It is expected to ease queues in the banks and post offices that were witnessed entire day on Thursday after ATMs will start delivering out new currency from midnight.
The government has directed all banks to work for 12 hours on Thursday, Friday, Saturday and Sunday to clear the rush of desperate customers for exchange transactions and, if required, remain open even next Sunday (November 20).
Jaitley said that a total amount of Rs 14 lakh crore is in circulation in the economy in high denomination notes. “But how much will be replaced by people, I cannot predict.”