Amid Cash Crunch, Bank Gives Delhi Man Rs 20,000 in 10 Rupee Coins Weighing 16 Kg

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Prime Minister Narendra Modi’s announcement to demonetise Rs 500 and Rs 1000 notes in circulation has left the common man in a lurch and the latest example is of Delhi-based businessman Imtiaz Alam.
 


Due to the cash crunch in several banks across India, Alam was given Rs 2000 in denominations of coins of Rs 10 as the bank was running low on paper currency.
 
Alam, a public relations professional, was waiting for his turn to withdraw money from his account at the Jamia Cooperative bank in Jasola. After standing for four hours in the queue, he was informed by the manager that the bank is running out of paper currency and offered Rs 20,000 worth in 10 rupee coins.
 


“The bank manager offered me 10 rupee coins after they ran out of cash. I agreed to take coins rather than standing in long queues again,” the 38-year-old was quoted as saying by Economic Times.


“It was quite heavy, I was unable to carry it on my own so one of the bank watchmen called a rickshaw for me and everyone who were waiting in a queue since Friday morning looked tensed but when they saw me taking the exit with 16 kg load everyone smiled at me”, Alam said.




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