Anarmy

Reserve Bank of India

Income Tax

Mehsana

Nadiad

Jitendra Prajapati

Rajouri

Jammu

Kashmir

Amar Jani

Singh

Meghaninagar

Ashram Road

Bhavik Shah

Reserve Bank

Kolkata

man, a store manager and a paper mill worker were among a host of people who went back disappointed from theatcorner after they were turned away from depositing or exchanging their old currency of Rs 500. Confused over the RBI’s frequent changes in regulations on withdrawals, exchange and deposits of currency over 50 days of demonetisation, a number of people had turned up to exchange the last vestiges of old cash thinking that they could exchange it up to March 31.But RBI’s new notification issued on December 31was only meant for those who had travelled abroad during the demonetisation period or NRIs visiting India who could exchange or deposit old currency of Rs 500 and Rs 1,000 till March 31and June 30 respectively along with supporting documents. More than 200 people returned after reading the handwritten notice on the RBI gates that stated, ‘Rs 500 and Rs 1000 old notes will not be exchanged from today.”The notice was dated January 2. Unaware of the new rule, people had come from as far asandto get their notes exchanged.in a stern voice shouted, “I am in the army, posted atinand. I came home last week as I was asked to vacate my rented house. While shifting, I found Rs 1,500 in old currency notes. So, I came all the way from Nadiad to get the money exchanged. I have to return empty handed.”A paper mill worker,, who had come all the way from Mehsana to get Rs 1,000 exchanged said, “My old mother suddenly realised on Saturday that she has got two old notes of Rs 500 each. As it is her saving and she may require anytime, she asked me to go to Ahmedabad and get it exchanged.” There were even persons who claimed they had been told to visit the RBI in January after they had visited the bank to exchange torn or damaged notes in December. Jaswantwho works as a store manager at the airport said, “It is my third round all the way fromtoto get my torn Rs 1,000 note exchanged. During my last two visits at RBI in December they asked me to come in January. Nobody is responding today.”Two bank officials came to gate hearing the commotion and told them to come after a couple of days as they had no direction from higher-ups as of now. They provided a phone number and asked them to inquire.a trader had come with two torn notes of Rs 500 each to get them exchanged but was refused. “I came in mid-December, followed procedure and submitted a form. But I was asked to come in January. Today they have shut us out. How do we believe this handwritten notice,” he asked.On December 31RBI issued a circular that stated, ‘Resident Indian citizens who were abroad during November 9, 2016 to December 30, 2016 can avail of this exchange and deposit facility for old currency up to March 31, 2017 and Non Resident Indian citizens who were abroad during November 9, 2016 to December 30, 2016 can avail this facility up to June 30, 2017.’ However, this facility will be available throughoffices at Mumbai, New Delhi, Chennai,and Nagpur.’