Demonetisation: What to expect from banks on day 11

New Delhi: Today is the 11th day of demonetisation and still a large number of people are standing in serpentine queues for cash. Keeping this in mind, banks have taken some big steps. Today banks will work only for those customers who have accounts in their respective bank branches. However, this rule is not applicable to old age citizens. In other words, they still can exchange notes from any bank, irrespective of whether they have account in that particular bank branch or not. "Banks tomorrow won't be doing exchange of notes at bank branches, only senior citizen can exchange their notes," said Rajiv Rishi on Friday, chairman IBA, reported ANI. All other services at banks will be operational and tomorrow we will complete our pending work, he added. Commenting on indelible ink, he said-"Using indelible ink reduced queues substantially, it has come down to 40% of what it was initially". Meanwhile, in Madhya Pradesh, people are withdrawing money from Micro ATMs installed in Bhopal. Image courtesy: ANI-Twitter What are Micro ATMs? The Micro ATMs are Point of Sale (PoS) Devices that work with minimal power. They are connected to the central banking servers through GPRS, thereby reducing the operational costs considerably. Micro ATM solution enables the unbanked rural people to easily access micro banking services in a very effective manner.