Recently, I went to Canara bank, Nacharam branch, to exchange Rs. 500 notes with Rs. 2,000. I filled the required form and enclosed a xerox copy of my ID proof. After waiting for two long hours, I was called by the bank staff for issuing new notes.
The officer verified the ID card before giving the currency. The system showed that I had exceeded the withdrawal of Rs. 4,000 for the day. I was surprised to know this as I had visited the bank for the first time. Though the procedure followed by the bank was as per the guidelines of the RBI, I could somehow not exchange the old currency with the new one.
About 15 days ago, my ID card was scanned in a diagnostic centre at Habsiguda which I suspect was misused by the staff for exchanging the new currency. How come the bank, which issued the new currency to the person, did not verify the original ID proof?
Kirthyvasan
Uppal
I am from Hyderabad, but pursuing my PhD at Pondicherry University. The demonetisation decision is appreciable, but not at the cost of common man. There are many who are saving for their daughter’s wedding or studies. The problem is that the money which was saved by a common man for years is hard to exchange with the legal notes. The decision may not affect those saving money in a bank, but what about those who have kept all the money in cash at home. I want action against black money hoarders, but the government should make sure that the common people do not suffer.
M. Raj Kumar Naik
Research scholar
