Several ATMs have started functioning from this morning as the banks could complete recalibration of these machines to allow withdrawals up to ₹ 2000 to begin with.
Even before banks opened for business, hundreds of customers were assembled in serpentine queues in front of them to exchange or deposit the invalid notes.
It said that consequent to the withdrawal of legal tender character of existing Rs500 and Rs1000 bank notes, it has made arrangements to distribute the notes in new Rs2000 and other denominations across the country.
As maximum people have ran out of money in last two days hence there was huge rush at ATMs in State capital.
To add to the misery still half of the ATMs are non-functional, making people agitated about the lack of infrastructure preparedness for the note exchange programme.
Heavy rush at ATMs was witnssed as late as 1:30 am in the night in Noida, while hundred thronged to banks to exchange cash early in the morning. Many, who had returned empty handed yesterday despite hours of wait, had to borrow Rs 100 notes from relatives and friends. ATMs of many banks reported running dry.
"We (employees) could not get time to have our lunch during the day as the branch was flooded with people", S K Shrivastava, Manager, Bank of India, S K Nagar branch told PTI.
As you see, there is a long queue inside and outside various banks and post offices. We only have 500- and 1,000-rupee notes which are worth nothing.
Arundhati Bhattacharya, Chairperson of State Bank of India, India's largest bank, said in Mumbai that it will take at least 10 days for normalization of ATM services.
By afternoon, most ATMs downed their shutters and put up notices announcing that they were left with no cash. "Today (Friday), we attended to more than three times the number of calls", Special Commissioner of Police (Operations) Sanjay Beniwal said.
Come Saturday, people can still deposit their cash in bank accounts or exchange it, but any transaction above Rs 2.5 lakh will invite scrutiny.
As a result, multiple news outlets have reported, 100 rupee notes are in short supply, leading banks to impose an ATM cash withdrawal limit of 2,000 rupees per day through November 18.
Banks will also remain open through the weekend with longer working hours.