State Bank of India on Wedensday said its branches across the country will remain open tomorrow with extended business hours up to 6 pm to ensure convenience to the public for banking transactions.

This move comes in the backdrop of the Government announcing late last evening that Rs 500 and Rs 1,000 bank notes will no longer be legal tender.

India's largest bank said customers can withdraw max upto Rs 10,000 during the day. All the ATMs across the country will become operational from November 11 and customers can withdraw up to Rs 2,000 per card per day. These transactions are subject to an aggregate limit of Rs 20,000 per week.

The bank said exchange counters are also being set up at branches from November 10, 2016 where Specified Bank Notes of Rs1000 and Rs.500 denominations can be exchanged upto a maximum of Rs.4000. Identity documents and an exchange slip duly filled in will be required.

There is no ceiling on deposit of the specified bank notes of Rs.1000 and Rs.500 in the customer’s account with the Bank.

As of now, the bank said it has sufficient notes of Rs.100 denomination to be dispensed through ATMs & Branches.

"There is no need for any panic as Specified Bank Notes can be deposited in the account without ceiling upto 30th December, 2016 with the Bank.

"Customers are further requested to avail/make use of alternative modes of payment such as Debit/Credit Cards, Mobile Banking and Internet Banking. These modes are very convenient, safe and secure and usage of cash gets minimized," the bank said in a statement.

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