• Unaware Of Demonetisation, Destitute Man Seeks Help To Exchange Rs 65,000 Invalid Notes

    The man said that he was unaware of demonetisation and that nobody told him about it

    A blind destitute man in his 70s was in the throes of desperation as he had old notes of Rs 500 and 1,000 amounting to Rs 65,000 in total. 

    He was unaware that old notes have been rendered void and had never heard of demonisation until Sunday when he discovered that the money that he had stacked away at some point and either forgot about them or could not find them on time for use.

    The man identified as Chinnakannu was later led to the Collectorate by a good samaritan to whom he lamented that the money was his earnings from a life on the street. He has been seeking alms in and around Chinnagoundanur village, in Pavakkal panchayat in Krishnagiri.

    When he was at the Collectorate, he wrote in a petition that he lost his life's earnings because he didn't know about demonetisation and that nobody told him about it. He also asked the Collector to compensate him with the new currency.

    With only Rs 300 as last of his savings, Chinnakkannu was worried about how he would find food once he ran out of cash, said Kannayyan, the cobbler who chanced upon the old man. Moved by his plight Kannayyan brought him to the Collectorate.

    While the petition was forwarded by the District Revenue Officer to the District Lead Bank Manager to be referred to the Reserve Bank of India, an official source said, the currency exchange was unlikely. “There is no possibility of exchange of currency since as per the RBI guidelines, the last date was March 31, 2017. It is no more a legal tender as per the Government of India,” he said.

    The District Lead Bank will forward the case to the RBI and wait for their response, said a bank official.
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