Man gets Rs 20,000 in 10 rupee coins from Delhi bank amid cash crunch

Prime Minister Narendra Modi’s sudden announcement to demonetise Rs 500 and Rs 1,000 notes in circulation, though welcomed by people across the country, has left many in the lurch.

By: Express Web Desk | New Delhi | Updated: November 19, 2016 11:57 am
demonetisation, currency exchange, delhi customer, coins, 20,000, cooperative banks, india news, indian express Imtiaz Alam, a public relations professional, said that he had to wait four hours before he finally managed to receive Rs 20,000 in coins.

As the nation reels under the effects of the demonetisation crisis, a Delhi man managed to withdraw Rs 20,000, but in denomination of coins of Rs 10.

Imtiaz Alam, a public relations professional, was given the amount in coins as the Jamia Cooperative bank in Jasola was running low on cash. He said he had to plead with the manager as he was in urgent need of cash. The money weighed 15 kilograms.

“The ATM at the bank has not functioned even once since demonetisation came into effect. The bank too is perpetually low on cash,” Alam told indianexpress.com. He said he waited in the queue for close to five hours as he needed the money for an official trip to Goa and to manage other expenses.

demonetisation, currency crisis, note ban, old Rs 500, old Rs 1000, new Rs 2000 note, narendra modi, black money, ATM, banks working today The money in Rs 10 coins that Alam managed to withdraw from the bank

“I went to the manager and requested him to do something. He said they were receiving very little cash from RBI. I was persistent and then he asked if I am okay with Rs 20000 in Rs 10 coins and no notes. I agreed. In 15 minutes, they gave me the coins. I kept them in a bag, put it on my shoulder and walked out,” Alam said.

Prime Minister Narendra Modi’s sudden announcement to demonetise Rs 500 and Rs 1,000 notes in circulation, though welcomed by people across the country, has left many in the lurch and utter state of confusion. It was a step taken by the government to flush black money out of the country. Millions of people have been desperately queuing up outside banks and ATMs to exchange old notes for new ones or withdraw cash.

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  1. M
    Mumbaikar
    Nov 19, 2016 at 6:54 am
    I request Indian express to provide news which would interest the nation, Mr. Editor of Indian express, do you really feel that 10 rupee coins is a national news?
    Reply
    1. T
      Tinku
      Nov 19, 2016 at 6:00 am
      Throw this coins to chaiwala..
      Reply
      1. S
        Soaj
        Nov 19, 2016 at 7:09 am
        Any how nots or coines whatever right now everybody needs money which they can purchased somethings like medicine or foods for poor people
        Reply
        1. S
          Sujit
          Nov 19, 2016 at 6:16 am
          This is not news that needs to be highlighted.
          Reply
          1. A
            Ankur
            Nov 19, 2016 at 10:03 am
            PR professional with "Gamchha" ...Humm...? He should look POOR ...right ...Thats why Gumchha was essential. Nice planted story ...Well done ..."Honest" The Indian express team. Thanks for entertainment. :-)
            Reply
            1. F
              factisa
              Nov 19, 2016 at 6:40 am
              Gujju very busy, got no time...lt;br/gt;lt;br/gt;Gujju collecting billions trillions fromlt;br/gt;housewives,lt;br/gt;old aged,lt;br/gt;savings in cash in house of ordinary indians...lt;br/gt;lt;br/gt;plus calling people as bkack marketers, smuglers,lt;br/gt;lt;br/gt; be rich means very bad thing in india, but his own friends in usa europe adani that all is good.
              Reply
              1. I
                imran khan
                Nov 19, 2016 at 1:58 pm
                Dear ankur... nothing is planted.... n that GAMCHA is not for this news.. it is one of its dress code... coz he is proud bihari n keeps that gamcha with him where ever he is allowed to wear..!!!
                Reply
                1. M
                  mathimathi
                  Nov 19, 2016 at 6:37 am
                  Rs 20000 numbers of a 10 rupee coins. easy to drink a chai per coin under a chai wala govt.
                  Reply
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