The limit of exchanging the notes is reduced to Rupees 2000 effective Friday from 4,500. Recently, exchange limit was raised to Rs 4500. But now, the limit dropped half of the amount.
The reason given, for this revision was that more people would be able to reach the counter for the exchange. Reducing the amount to be exchanged would increase the number of people to avail the plan.
People are already struggling to stand in long queues to get their money exchanged. Adding to the trouble, now one should wait for so long and gets such a small amount. Some say that this revision would surely increase the number of people to reach the exchange counter, but to meet their needs, now visits at the bank would increase to convert the banned notes to usable cash.
