Frequently changing rules render citizens helpless

Frequent changes in rules for exchanging Rs. 500 and Rs. 1,000 currency notes and withdrawal limit by the banks have been causing untold misery to citizens.

The exchange limit was reduced from Rs. 4,000 to Rs. 2,000 while withdrawal was limited to Rs. 4,000 from Rs. 10,000 and above on Saturday.

A senior officer at the Central Bank of India, Hanamkonda, said they were running short of notes and hence, one could withdraw only Rs. 4,000 and that was the upper limit.

All the Rs. 100 notes were exhausted at the bank and for the past two days, it has been giving Rs. 10 coins. Only on Saturday the bank received Rs. 100 currency notes. “On Monday, we may get some more Rs. 100 notes,” the officer explained.

Ghousia Sultana, a resident of Raipura, lamented over the frequently changing rules. “It’s ridiculous that I can’t withdraw the money from my own account,” she said.

The banks here have been convincing the citizens saying they would soon get the new Rs. 500 notes. However, no bank is sure of the new currency notes meeting the customers’ needs.

Meanwhile, the Rs. 2,000 note has not provided any relief to either citizens or small traders as they both find it invalid. This high value note is difficult to use in markets, small grocery shops, pan shops and even in buses and post offices as none have change to return.

V. Neelima, a resident of Ramnagar, said she had to face hardship owing to the withdrawal limit. “The government should have released new Rs. 100, Rs. 50 and Rs. 20 currency notes before going for demonetisation. It’s getting difficult to manage as we are unable to meet our daily expenses be it vegetables, milk, bills and transportation,” she said.