Banks, Post Offices Begin Exchange Of Old Notes With New

Hyderabad: The demonetized notes of Rs 500, Rs 1,000 are being exchanged through post offices and banks from Thursday in all cities and towns. All banks started working from 8am and will continue till 8pm every day till Sunday.

Those who have accounts with the banks can deposit any amount into their account. Those who do not have an account can exchange up to Rs4,000 at one go.

Demonetized notes would be exchanged at 35 head post offices and 825 sub-post offices in the Telangana circle. The India Post officials have made necessary arrangements at GPOs (General Post Office) in Abids, Secunderabad, Khairatabad, Jubilee (Old City), Trimulgherry , Kacheguda and Vikarabad head post offices and 212 sub-post offices.

“Additional counters will be opened at all 860 post offices across the state to exchange the notes. The counters will be open between 10 am and 6 pm. The limit of exchange is up to Rs 4,000 per person based on government issued identify proof," said Vennam Upender, director of postal services, Telangana Circle.

Meanwhile, police has geared up to provide sufficient security at banks and post offices to ensure that there is no stampede or any other law and order issue.

Telangana DGP Anurag Sharma directed that all unit officers must monitor developments closely. "Make sufficient bandobust at banks and post offices to ensure that there is no stampede or any other law and order issue," the DGP said.

Hyderabad Police Commissioner M Mahendar Reddy held a meeting on Wednesday and issued instructions to all DCPs, ACPs and Station House Officers to make adequate security arrangements. The entire police force would be on standby for next three days, he said in a release.