The people who are exchanging or withdrawing money from the banks are in woe with the branches providing them with old, worn-out, soiled currency of the smaller bills like Rs 10 and Rs 20 which the people apprehend there would be no takers of them in the markets. However, most of the people are refusing to accept them, something that is deepening their woe. The crisis is further deepening with the traders hoarding the lower value bills, the trend that is blocking their flow in the markets.
Talking to The Pioneer a manager of a Bank of India branch said that they were not to blame for the people being provided with old notes. “It is the RBI which is delivering such torn notes in our chests. What can we doIJ Without understanding our plight, the common people are saying that we are holding fresh notes. This is wrong. We are trying our best to give the lower value bills of the denomination of Rs 10 and Rs 20 to the customers. Some of them are naturally being found soiled. We are helpless, ” he said. He further said that they were sending such notes to RBI asking for their replacements.
The customers being provided with Rs 2000, the people are in deep trouble. “Given the volatility in the situation, who would give us changes for Rs 2000IJ The bank officials when told about our problem are shrugging the matter off their shoulders,” said an aggrieved customer. .
Besides, there is no uniformity in the banks about banking hours leading to the people lining up since the morning. When this correspondent visited the bank located in the secretariat he found many returning gloomy-faced on being refused money with their having exhausted their fixed withdrawal limit of Rs 4000.
Talking to The Pioneer, an official cited a disturbing trend. “We have disbursed money in huge amounts in different denomination like Rs 100 and Rs 50 over the past three days. But the businessmen are hoarding the money they have withdrawn with an intention to replace the black money they have with the new ones. There is not guideline to stop such malpractice. We apprehend that things would remain volatile for the next two/three months,” he said.