Man gets Rs 20,000 in coins from bank
posted on Nov 19, 2016 @ 5:20PM
A man from Delhi got Rs 20,000 in denomination of Rs 10 coins from the bank as it ran out of notes for the day. Mr Alam, a PR professional, who stood in line for four hours outside Jamia Cooperative Bank on Friday to exchange his banned Rs. 500 and 1,000 notes, was told by the manager that the funds were insufficient and he could only exchange Rs. 2,000. But, after Mr Alam explained the manager that he needed a larger amount he finally relented to the request but with a rider - that he will get all money in 10 rupee coins. "The manager offered me 10 rupee coins after they ran out of cash," said Alam. "I agreed to take the coins rather than standing in the queue again." he said. He has already used some of the coins to pay for restaurant bills and cab fares. Mr Alam also has offers to exchange 2,000 rupee notes for the coins. The currency ban was announced suddenly by Prime Minister Narendra Modi on November 8 to check tax evasion and black or untaxed money.