Here's How Some People Are Avoiding Bank Queues

Banks and ATMs across India have been witnessing serpentine queues as people throng to exchange old Rs 500 and Rs 1,000 notes that are no longer legal tender. But some people have found their own way to avoid the crowd — plastic money, e-wallets, gold investments and the local kiranewala.

# Doctors are tying up with medical shops where patients can pay the fees through credit or debit cards

# Many are buying wine and foreign-made liquor at prices much higher than the MRP

# Investment in gold has picked up as jewellers are still accepting Rs 500 and Rs 1,000 notes with back-dated bills

# Some are using the cash to book train and air tickets which can be cancelled later for a refund

# As bank deposits are under the scanner, people with large cash amounts are dividing it up among family members, who then deposit it in their own multiple bank accounts

# The local kirana shops in certain areas are willing to give back legal notes in exchange for the old currency, but charging huge ‘commission’