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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First Published on: November 19, 2016 10:07 am
  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
                  1. R
                    R.Mehta
                    Nov 19, 2016 at 9:21 am
                    Now the govt/RBI wants people to carry bags with them to carry the coins for amounts withdrawn from the banks .How the govt wants people to use this coins of thousand of rupees.Even after all these reports the stand of the govt./RBI is that there are sufficient currency notes.Without realising the ground realities every body is talking in the air and dont want to admit ,that there is no preparation to meet the demands of large potion.Not only sufficient new currency should be made available to banks ,the bank Managers should be given authority to re-employee retired staff for one month ,so that extra counters for deposit/withdrawal can be operated to take care of needs of customers.
                    Reply
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                      Mohammed Yunus
                      Nov 19, 2016 at 5:41 am
                      I am also happy you didnt make a ruckus and walked away in satisfaction.
                      Reply
                      1. R
                        Raja
                        Nov 19, 2016 at 6:26 am
                        False propaa by the media. All the media are against Modi due to vested interests. All of them are funded by foreign agencies to destabilise Indian economy.
                        Reply
                        1. R
                          rajaram
                          Nov 19, 2016 at 7:54 am
                          Indian will never come out from the clutches of medieval forces. They don't want digital india. They are ready to die for cash.
                          Reply
                          1. R
                            rajaram
                            Nov 19, 2016 at 7:56 am
                            Media is paid by terror money from stan.
                            Reply
                            1. S
                              Sahil Gupta
                              Nov 19, 2016 at 11:10 am
                              Bank accounts are not so difficult to make.and yeah small transactions have to be mostly made by cash but all the big one can be made digitally or by cheque,right?
                              Reply
                              1. S
                                S.Kumar
                                Nov 19, 2016 at 8:52 am
                                Even when the computer launched in banks, most of the people were againt the move, look at now. even in most of the co-operative bank they don't prefer to use the PC and they don't bother about RBI rules, most of this banks are operated by political leaders. friends always use plastic money, look at swedan, they are first country using plastic money
                                Reply
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