Why note exchange for all stopped for a day, asks Mamata Banerjee

KOLKATA: Urging the government to explain why the exchange of defunct notes has been stopped for a day, West Bengal Chief Minister Mamata Banerjee termed it as a "whimsical" decision and said a financial emergency has been imposed on the country.

"Now note exchange stopped for a day. Yet another whimsical decision. Government must explain. Is there currency shortage? Financial emergency," Banerjee said in a tweet.

Indian Banks' Association today said in Mumbai that all banks will serve only their respective customers tomorrow and will not exchange old Rs 500 and Rs 1,000 notes from customers of other banks.

IBA chairman Rajeev Rishi, however, said senior citizens are exempted and they can go to any bank branch to exchange notes tomorrow.