Finally customers have got a sigh of relief as banks have started functioning from today. Yes, there was so much chaos since the time Modiji announced demonetization of Rs 500 and Rs 1000 notes.
Yesterday was no less than a nightmare for people as many of them actually didn’t have any money to buy basic stuff too. Yes, many people found it difficult to arrange Rs 50 or Rs 100 notes.
But today, banks have solved this problem and there are long lines of customers, who are visiting the banks since early morning. However, to avoid confusion, RBI has come up with a new easy-to-use form, which customers have to fill up for exchanging their currency.
The limit to exchange the currency is set to Rs 4,000 per day! A person has to provide his ID proof and fill up this slip; have a look at the slip…
Anjuly Chib Duggal, a Financial Services Secretary stated “A format (has been provided) which enables banks to capture information about high-denomination notes which are being provided and also what is the requirement which will suffice for purposes of identification,”
Further she added that the form is very easy to read and operate and banks are facing great ease for taking care of all the customers within a very short period of time. Then talking about shortage of notes, Anjuly said that banks are arranging new currencies and very shortly they shall arrive.
Cash logistics companies have received instructions from RBI to replace high denomination notes with valid ones. This is applicable to Rs 100 notes too; this is the reason why ATMs are closed today. They will start functioning tomorrow as cash is being replaced.
There are nearly 8,800 cash vans and all employees are working 24×7 to fulfill this need.
Modi has set up an example of perfection in every senses! With this rule processes would become all the more easier!
