Anger At ATMs In Scramble For Cash, A Day After Long Queues At Banks: 10 Developments

New Delhi:  Anger outside ATMs was the sight that greeted most Indians on Friday morning, a day after long queues at banks following the government's sudden decision to take Rs. 500 and 1000 notes out of circulation to crack down on black or untaxed money.
Here are the top 10 developments:
This morning, people rushed to ATMs, which reopen two days after Prime Minister Narendra Modi announced that the two biggest notes are just "worthless pieces of paper". The shock announcement led to a late night scramble to ATMs on Tuesday.
ATMs were to start releasing new Rs. 500 and Rs. 2,000 notes from Thursday midnight. However, the crowds at many of the machines grew agitated at learning that they were still inactive.
Banks announced yesterday that the surcharge for using ATMs of different banks has been waived.
On Thursday, as banks reopened, millions rushed to deposit and swap Rs.
 500 and Rs. 1,000 notes.
The government has said deposits above Rs.  2.5 lakh



will be taxed and could draw a 200 per cent penalty if found disproportionately higher than the account owner's income.
The government is "unwavering in its effort to create an India that is corruption free and where fruits of development touch every citizen," the PM, currently on a Japan visit, tweeted.
Banks will stay open this weekend and many banks have announced longer working hours.
Withdrawals from banks are limited to Rs. 10,000 a day and in ATMs, there will be restriction of Rs. 2,000 per day per card in the first few days, which will later be raised to Rs. 4,000 later.
Old notes will be accepted till midnight on Friday for water and electricity bills, government penalties, and at state-run petrol pumps, government hospitals, metros and at tolls. Highways are toll free for now.
People can deposit the old notes of Rs. 500 and Rs. 1,000 in banks or post office accounts till December. Rs.  1,000 notes may return soon with new security features, the government said.