RBI office runs out of notes, gives Rs 4,000 IN COINS

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RBI office runs out of notes, gives Rs 4,000 IN COINS

Dubai - "I came to exchange invalid notes worth Rs 4,000. I got the entire sum in Rs 10 coins."

By Web Report

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Published: Sun 13 Nov 2016, 7:13 PM

Last updated: Sun 13 Nov 2016, 11:01 PM

The common man is not the only one struggling with shortage of cash.

While people in India have been queueing up at ATMs for hours to withdraw cash -- and the cash machines, most of which are yet to be recalibrated, are running dry -- the Reserve Bank of India too is dealing with its own share of problems.
Also read: NRI tries to convert Rs 800,000 at UAE exchange

According to a report in The Times of India, the central bank's office in Ahmedabad, Gujarat, gave coins to people seeking to change their now-invalid currency notes.

"I came to exchange invalid notes worth Rs 4,000. I got the entire sum in Rs 10 coins, in two polybags," the report said quoting Hanif Mohammad Shaikh, a tailor from the Shahpur area.
Also read: Dubai-based NRI gets Rs 2,000 notes worth Rs 160,000

Gates of the regional office, which had set up extra counters to deal with the rush of people wanting to exchange notes, were shut at 3.30 pm after they exhausted all their cash.

Meanwhile, the Indian finance ministry has assured that the new Rs 2,000 noted will be available in ATMs from Monday onwards.

The ministry added that there is sufficient cash available with Reserve Bank of India and other banks.



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