NT NETWORK
PANAJI
The news of currency notes of Rs 500 and Rs 1,000 becoming invalid for transactions from the midnight of November 8 came as a shocker and people in the state were gripped with panic.
No sooner Prime Minister Narendra Modi addressed the nation announcing the move to scrap the existing notes of Rs 500 and Rs 1,000 from transactions, people moved out of their homes to either withdraw Rs 100 notes from ATM machines or carry out their essential businesses in anticipation.
Most individuals were not aware of the facts of the scrapping of the currency notes and in a haste to avoid a cashless day on Wednesday, rushed to get either cash from ATMs or complete the transactions, whichever possible, in anticipation.
In the capital city of Panaji, long queues were witnessed at ATM outlets of all banks. Many in a stint of panic rushed to withdraw Rs 100 currency notes from ATMs. Men and women regardless of age were seen queuing up at the city ATM outlets. However, after a while, most of the machines only dispensed either Rs 500 or Rs 1,000 notes.
At the petrol pump stations, long queues of motorists, who rushed to spend the Rs 500 currency notes, were visible. However, to the surprise of the motorists, the pumps had already begun running out of Rs 100 currency notes.
A manager at a petrol pump said, “Only those who are tendering exact amount or are willing to fill fuel to the tune of currency notes in multiples of 500 are being dispensed fuel. We have stopped dispensing fuel to those who do not tender change and making a mad rush in the hope of taking Rs 100 currency notes from us.” However, the manager said that the petrol pump would dispense fuel against swiping of debit and credit cards.