In a bizarre incident, the Jamia Cooperative bank in Jasola, New Delhi gave Rs. 20,000 in denomination of 10 rupee coins to a man who came to withdraw money as the bank was short on current notes.
Imtiaz Alam, a public relations professional, was in urgent need of money and pleaded the bank manager. The coins weighed 15 kilograms but Imitiz Alam had no qualms about accepting the money in coins.
According to reports, the ATM at the bank hadn’t been operational since the govt announced scrapping old currency notes of higher denominations and the bank was running low on cash as well.
Imtiaz said he had been standing in the queue for five hours since he badly required money for an office trip to Goa and pay for other sundry expenses.
“I went to the manager and requested him to do something. He said they were receiving very little cash from RBI. I was persistent and then he asked if I am okay with Rs 20000 in Rs 10 coins and no notes. I agreed. In 15 minutes, they gave me the coins. I kept them in a bag, put it on my shoulder and walked out,” Alam said.
Notably, the BJP-led union government announced scrapping of Rs. 500 and Rs. 1000 currency notes on the 8th of November, leaving many in the lunch as millions of people across the country.
Even as the move is said to flush out black money in circulation in the country, it has resulted in millions of people queuing up outside the banks and ATMs to exchange their old notes or withdraw cash.