Rediff wasting the space to this kind of junk article. This is junk because as promised the normalcy of bank operations is restored. Queues reduced to normal. But no builder is demanding now cash payments in lakhs ! I experimented 3 builders.
Re: Re: Re: RBI
by rajen kumarasamy on Dec 30, 2016 12:42 PM
First of all, the RBI doesn't know the size of new note with which the existing ATM's work.
As I mentioned in his first article comments, this guy is a civil engineer and he is giving gyaan on economics. Go search his name and profile on Google. Every TomDickAndHarry has become an expert economist these days, it seems.
Don't know about others, but I have had absolutely no problem getting 500 notes. There is a Canara Bank near my house in Delhi where the ATM always has money in the evenings up to late night. Yesterday there were only 4-5 people in the queue and I withdrew three 500 notes. I could have inserted the card and withdrawn another 2 notes but since I already had 7 500 notes in my pocket, I let it go. If you put 2500 or 2000, you only get 2000 notes, so I withdrew only 1500 in 500 notes. I have nearly 9000 in my pocket in 2000s, 500s and 100s and my wife has over 10,000 at home in 100-notes. It is more than enough to pay all the maid salaries, car washer, cable bill, vegetable vendors, groceries, etc for up to Republic day. I don't know what issues others are facing, but I have had no problem at all.
Re: 500 notes
by Swamy Swarna on Dec 29, 2016 05:16 PM
You are lucky and an exception. I am in Hyderabad and most of the ATMs in my area are closed / empty....and banks have long ques....and not enough cash to give ......
Re: Re: 500 notes
by bakchod on Dec 29, 2016 05:41 PM
Sad to hear that sir. My elderly father lives in Mumbai and when he withdrew 20,000 three weeks ago, he got it all in 500s. He also said that he has not faced any problem with cash so far.
Looks like only certain parts of the country are affected. I heard from friends that even in Bangalore there is hardly any problem getting money from ATMs in the last 7-8 days.
Re: Re: 500 notes
by Sudhanshu sharma on Dec 29, 2016 06:15 PM
apart from others in same area begumpet SBH, Greenland Vijaya bank always open and full with cash.
Re: Re: Re: 500 notes
by Lekshminarayanan on Dec 30, 2016 10:05 AM
I am in Bangalore. I have seen a 500-rupee note in the hands of a banker. I have not had the fortune to touch it yet.
I think RBI govnr was lucky as nobody filed criminal case for cheating on his experience on 9/11/16 as he has signed PN on the notes that he shall pay the bearer a sum of ... and on 9/11 there was no way to change the 500 or 1000 note and no bank/ATM functioning on that day and that if one was only 500 or 1000 note in his pocket he was starved, without medicine or travel in autos or buses or admitted to hospitals etc.
RBI governor has a great say and market move with his statements which is missing in this case.It seems he has no say he has been given a task and he has to perform.PM,FM and finance secretary are driving this demonetisation move and if they fail they will blame the RBI poor planning!!.Where is the black money they were talking about 3lac crores it seems that all the old currency of 500 and 1000 deposited in bank(ET quotes 14 Lac Cr.against 15.4lac Cr scrapped currency till 27/12 ).It should have been called money exchange program instead.On top of that 1.28 Lac Cr(CMIE Fig) is cost incurred on this exercise.
