• 7 yrs later, DeMon rerun worry for Kolkata again
    Times of India | 20 May 2023
  • KOLKATA: The announcement that Rs 2,000 notes will cease to be legal tenders from October 1 brought back memories of demonetization for many in Kolkata.

    Even though the number of such notes has come down over the last two years, many still have them, sparking fears of long queues at banks and a mad scamper to get the notes exchanged.

    The notes can be exchanged at banks from May 23, it was announced. Pradip Kumar Ghosh (61) was immediately reminded of the time he had in November 2016 when the Union government had banned Rs 1,000 and Rs 500 notes. Ghosh, a resident of Tobin Road, had stood in long queues for days in a row to get old notes exchanged and to withdraw money.

    “Not only did I have to get old notes exchanged, there was a withdrawal ceiling of Rs 2,000 at a time. I had to visit my branch almost every day for a week,” said Ghosh. IT professional Kaustav De, a resident of New Town, recalled how he had to queue up to get notes exchanged during office hours. “I had to rush out of meetings and queue up at a local bank to exchange old notes and withdraw money. It was a nightmare.

    But hopefully, it won’t be repeated this time since few Rs 2,000 notes are now in circulation and very few people have them since ATMs have stopped dispensing them long ago. But I fear there will still be a rush,” De said.

    Private firm executive Gobindo Chandra Das felt it could again pose a challenge for the elderly, who often keep old notes in reserve for emergencies. “I know several of my relatives who have Rs 2,000 notes. I hope banks will have adequate arrangements to get the exchange done quickly, keeping the convenience of senior citizens in mind,” said Das.

    Physiotherapist Shriya Das said she is worried about crowds swelling in banks. “I don’t have Rs 2,000 notes, but I need to visit branches to withdraw money. If there’s a sudden crowd explosion, it will be difficult for me since I have a long commute to work and am pressed for time,” she said.

    Dum Dum resident Ronit Meta, a private firm employee, said he failed to get all his notes exchanged last time. “There were several friends who had the same experience. But this time, I will make sure to get the few Rs 2,000 notes that I have exchanged on the very first day,” said Meta.
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