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Many put off by RBI norms
A day after the Central government demonetised Rs 500 and 1000 notes, denizens thronged to banks and post offices across the district to exchange their currency but they faced countless difficulties with restrictions imposed by some banks.
- Customers asked to produce original identity proof along with photostat copy, requisition form and a photograph for exchange or deposit of money
- RBI guidelines test people’s patience as they have to wait to get notes of lower denominations
Nellore: A day after the Central government demonetised Rs 500 and 1000 notes, denizens thronged to banks and post offices across the district to exchange their currency but they faced countless difficulties with restrictions imposed by some banks.
As soon as banks opened on Thursday, 269 private and nationalised banks in the city started exchanging currency from 10 am and some of them have started operations at 9.30 am keeping in view of demand from the public. People came to banks in large numbers to exchange their old notes and also to deposit huge currency remained with them. But, staff at bank branches insisted costumers to show original identity cards along with photostat copies and photographs.
Some customers, who have already submitted their Know Your Customer (KYC) forms to the banks, were also not exempted. Even though, huge crowds were standing in front of the banks, majority banks managed with existing counters and staff members only. “Superintendent of Police said customers have to produce their personal identity cards along with photostat copies and passport size photographs for proof in the bank. We need all related documents either for exchange or for depositing money into their accounts,” said a staff member of HDFC bank located in Vedayapalem. Long queues were seen in front of banks to exchange old notes.
A bank branch located at Current Office centre has closed transactions regarding exchange of notes after 11 am and asked the customers to visit the branch on Friday without considering difficulties of people. Meanwhile, shops have increased rate for photocopying of identity cards from Rs 1 to Rs 2 due to huge demand. Some branches of Andhra Pragathi Grameena Bank have provided services to their customers only.
In fact, the Reserve Bank of India (RBI) issues guidelines to collect a specific requisition form and any identity proof for exchange of devalued money. But, the banks followed their own rules creating panic among people. “I have limited money and how should I go and get photograph immediately. Banks are not accepting downloaded Aadhaar copy in place of original. Even, customers of banks were also not given priority as they had already submitted their identity proofs and other documents. This is quite negligence,” said a customer who visited a bank branch in Dargamitta area.
When contacted Lead District Manager (LDM) Venkateswara Rao, he said banks were following guidelines of the RBI and also their own for safety precautions. Customers, who failed to submit their KYC forms, can submit their photographs along with requisition slips, he added.
