Confusion and panic — these were the most common emotions felt by many customers who walked into various banks across Tamil Nadu to exchange old currency notes. Hundreds lined up before banks as early as 6 a.m. to deposit or withdraw cash. It didn’t help that many of them were misinformed too.
At the Indian Bank, T Nagar branch, some customers had to go home empty-handed as they did not have the necessary documents to show at the counter. Exchange was refused to some people at the Punjab National Bank at CIT Nagar because they carried only Xerox copies of their ID proofs.
Some branches opened their counters a little late due to a delay in getting cash. There was also a shortage of forms in certain banks in Chennai. UG. Venkatsubhramaniyen, senior branch manger at Punjab National Bank, West CIT Nagar Branch, said the bank had sought Rs 35 lakh for disbursement. “There was a delay in getting the amount,” he said.
At Karur Vysa Bank, T Nagar, two high-profile customers refused to stand in queue and walked in to exchange cash. An executive at the Nandanam branch of ICICI Bank said there was no priority given to privilege customers.
One out of 20 customers who walked into banks was a senior citizen. Some of them lamented that a separate counter was not arranged. S Rengarajan, who works as watchman at a theatre, said, “I recently had surgery and I have been waiting here for the past two hours.”
Some banks utilised this opportunity to woo new customers. “Why don’t you open an account with us,” bank officials asked customers who were waiting for hours in the queue.
In Coimbatore, banks started disbursing Rs 2,000 notes only post-lunch. “We received the communication a little late,” said Lead Bank Manager A. Kanagaraj.
In Kanyakumari district, 48-year-old G. Amanullah, a vendor, could not have a single meal as he only had an Rs. 500 note. “The Indian Bank officers are insisting on an original ID proof,” he said. Over 800 tokens were issued by the main branch of the State Bank of India near the Central Bus Stand in Tiruchi.
At Madurai, the State Bank of India branch near Madurai Railway Junction put up a shamiyana to provide shade. In places like SBI Tallakulam branch, a counter was set up outside to verify identity proofs.
Photocopying shops near banks witnessed brisk business as many had to photocopy their identity proofs.
Some politicians in Chinnalapatti allegedly deployed women from villages to exchange notes. Each woman carried Rs. 4, 000 to deposit into their account. These women were reportedly promised a commission of Rs. 300.
A professor from Prince Group of Institutions alleged that she and her colleagues were given their salary in cash for the first time on Thursday, and they were given only denominations of Rs. 500 and Rs. 1000. “The cash is usually deposited into our accounts,” she said.
(With inputs from Aditi. R, M. Soundariya Preetha, R. Arivanantham, Sanjay Vijayakumar, S. Ganesan, S. Sundar, Pon Vasanth Arunachalam, K. Raju )
