Everyone knows the announcement made by the RBI that it has stopped the circulation of 2000 notes. Even upper class people stood in queues in front of banks to exchange their notes. Wealthy entrepreneurs and businessmen are happily spending their bank notes on jewelry shops, buying expensive furniture and buying land.


Now the point is that none of the announcements made by the RBI regarding the exchange of notes have reached the banks in writing. Therefore, private banks do not accept currency exchange. According to RBI announcement Rs. 40 thousand can be exchanged without submitting any proof.


But private banks do not allow this. No exchange will be made if the required Aadhaar PAN cards are not provided. They are saying that only the customers have the exchange facility. According to the announcement made by RBI, the notes can be exchanged in any bank. There is no need for the person to have an account in that bank. But in practice the opposite is happening.


 In the case of exchange of notes, announcements are not sent to the banks in the form of RBI circulars. That's why banks are running around in the matter of exchange of notes. Many are afraid that if they submit all the documents and exchange the notes, there will be problems from the IT department.


It only means that all the rules and regulations imposed by the government will only bother the middle and upper middle class people. Everyone remembers that even when the demonetisation was done seven years ago, the common people faced similar difficulties.

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