The withdrawal of Rs 2,000 notes has created a buzz with people rushing to fuel pumps and jewellery shops to get change for the tender. Banks have been given four days to prepare before they open windows for the exchange for four months, to avoid the panic seen during demonetisation.
As businesses and organisations prepare to address the demand for change, Tamil Nadu's state transport corporation has instructed bus conductors not to accept Rs 2,000 notes for payment.
Businesses hold on to change
While Tamil Nadu's state transport authorities issued a circular, their counterparts in other states have reportedly given verbal instructions.
People can approach banks to exchange Rs 2,000 notes for other denominations in a hassle-free manner or just deposit them in their accounts.
In addition to that, banks have been told not to make people fill up slips for exchanging notes, and people should be able to do it in the usual manner.
Banks told to make things easier
Apart from banks, RBI's registered offices will also accept Rs 2,000 notes and return change in other denominations.
People don't have to have an account in a bank to get their Rs 2,000 notes replaced.
The RBI has been issuing clarifications and taking all possible measures to prevent a rush for exchanging the notes being phased out.
