MangalurU takes it easy on currency deposit, exchange

Mangalore Today News Network

Mangaluru, Nov 11, 2016: The run for notes exchanges seen in metros was missing in this coastal towns to exchange demonetized currencies of Rs 500 and Rs 1,000, when banks opened on Nov 10, Thursday. The long queues seen in the early hours quickly dispersed when public realised that the wait would be long and only those in urgent need of exchange waited in the queue. Long queue were seen only at a couple of banks in the heart of the city.

Many banks in the arterial roads of the city, barring MG Road, had thin attendance and public exchanged and deposited invalid currencies within few minutes.

In banks where there was a huge crowd, it took more or less five to seven minutes for deposit or exchange. One of the customers, who visited a bank on MG Road said he needed to give cash to a party and hence, he was at the bank for exchange. There was no panic-stricken crowd in the city and the exchange process was carried out swiftly.   Many banks shut doors on customers of other banks. At SBI main branch, repeated announcements were made asking the customers to stay calm as the exchange and deposit could be done till 6 pm. Many bank branches in the city facilitated transactions till 5 pm.

The new currency notes of denominations Rs 2,000 and Rs 500 were not available in many branches and only a few lucky customers got their hands on the new notes, who announced it through social media by clicking selfies. Other bank branches dispensed Rs 100, Rs 50 notes. Meanwhile, city traders had a tough day even on Thursday with small currency notes missing in the market. Trader M Prabhu on Balmatta road said, "We had a tough time on Wednesday. Thursday was a tad better. We have given many regular customers groceries on credit."  Some traders accepted invalid tenders and faced problem at the banks while depositing them.


A businessman booked Rajdhani tickets from Thiruvananthapuram to Hazrat Nizamuddin for his family paying more than Rs 1 lakh on Nov 9, Wednesday (one way costs Rs 7,900 in first class) and repeated it on Nov 10,  Thursday. Sources who noticed this said the businessman had said that he would cancel the tickets at a later stage and get refund in valid currency. But the businessman may be in for a shock as already airlines have said that the tickets being purchased with invalid tender will be "strictly non-refundable and won’t be cancelled." , Surel our Railways too are wise and alert, so be careful not to be too smart.