Crowds continue outside RBI Bangalore for day 2..

The nightmare continues for people. First Indian citizens realised late that Govt/RBI have gone back on their earlier promise. Only those citizens who were outside India in the period 8 Nov 2016 to 30 Dec 2016 and can prove so could exchange old notes of Rs 500 and Rs 1000 at RBI offices. RBI just allowed this facility at 5 of its offices  – the 4 metros plus Nagpur.

People who were outside the country and are from Bangalore (and from other places than those five) realise that Bangalore is not part of the list. So now,  they have to travel to one of those 5 places to exchange:

A day after Reserve Bank of India officials turned away those seeking to exchange demonetized currency notes for new ones, people continued to trickle into the RBI office on Nrupatunga Road on Tuesday.

Although the crowd was thinner than Monday, many were seen getting restive as the central bank officials declined to exchange notes citing norms.

“We are extremely disappointed. If given a chance, we can prove that our money is legitimate. However, the RBI is treating us like thieves by telling us to leave,” said Lakshmi Devi who had come all the way from Srinivasapura in Kolar district seeking exchange of Rs16, 000 in old notes of Rs 500 and Rs1,000. Unlike Monday, no untoward incident was witnessed on Tuesday.

The latest rule allows only those who were abroad between November 10 and December 30, 2016 to exchange old notes. However, the eligible customers couldn’t get new notes since the Bengaluru branch of RBI doesn’t have an exchange facility. The RBI notification issued on December 31, 2016 says the facility is limited to the bank’s offices in Mumbai, New Delhi, Chennai, Kolkota and Nagpur.

The facility was available to the general public till December 31, 2016 and those who were not in India during the said period can avail it till March 31, 2017.

“Is it not unfair to ask us to go to Mumbai or Delhi to exchange notes worth a a few thousands,” asked Satish Kumar, a resident of Hulimavu who returned from the US on December 31 after visiting his daughter. “And is it justified that people be punished just because they were a little late in getting notes exchanged? We demand the facility be extended to RBI Bengaluru branch,” Kumar added.

Most people from India would imagine that Bangalore would be an automatic choice for such exchange facility given continuous foreign travel of the IT executives. But perhaps the RBI thinks otherwise..


2 Responses to “Crowds continue outside RBI Bangalore for day 2..”

  1. Viru Says:

    Incidences like these surely raise doubts wether Urjit Patel is competent enough to continue as an RBI Governor?

  2. Amit Anam Says:

    LoL, Nagpur is Chaddi capital of RSS, they need more notes than anyone

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