People throng RBI branch in Chandigarh to exchange Rs 2000 notes

Vijay C Roy

Chandigarh, October 20

People from the region have started queuing up at the Reserve Bank of India’s regional office here to exchange Rs 2000 currency notes as the window to get it done at other banks closed on October 7.

Officials say around 300-500 people are coming to the regional office, having jurisdiction over Haryana, Punjab, Himachal Pradesh and Chandigarh, on a daily basis.

On May 19, the RBI decided to withdraw Rs 2000 denomination notes from circulation in pursuance of its “clean note policy”. Public and entities holding such notes were initially asked to either exchange or deposit these in banks by September 30. The last date was later extended to October 7.

From October 8, people were given the option to get the currency exchanged or get the amount credited to their bank accounts at 19 offices of the RBI, including the one in Chandigarh.

The facility was aimed at assisting citizens, but for many it is a cause of inconvenience as they have to travel long distances. “I have come from Halwara (Punjab) to exchange three Rs 2000 currency notes. Since I reached here at 2 pm, I am doubtful that I will be able to get it done,” said Prabhjot Kaur, a housewife.

Parmeet Singh of Tarn Taran said they had been asked to come on Monday. “This is not fair. We came here after travelling over 200 km. When we reached here around 2 pm, there were over 40 persons in the queue. The officials told that us that to come the next day as the gate closes at 2.30 pm,” he said.

“We have to fulfil KYC formalities and verify the details given by the customers like bank account number and IFSC code. The process takes time,” an official said. Individuals or entities can exchange Rs 2000 notes at the 19 RBI offices up to Rs 20,000 at a time, while there is no such limit for getting the amount credited to bank accounts.