Cash goes down drain in Assam

Guwahati: The pro-active approach of the nationalised banks to tide over the currency crisis succeeded in reducing long queues outside the banks and ATMs in Assam on Friday.

The drive against the black money seems to have created panic among some section of society as several instances of currencies with Rs 500 and Rs 1,000 denomination were found to have thrown into drains and roadsides.

Guwahati market sources  say even a trade into old currency has started, with some “influential” chartered accounts offering 50 per cent return against old currencies. Even new currencies collected by hoarders through exchange was also on sale in Guwahati, sources said. The ATMs of most private banks were not working on Friday.