Kangaali Mein Aata geela! This Hindi proverb turned literal for a resident of Worli’s Nishad Jafri. While the city was crying for cash, this man ended up damaging his Rs. 2000 note. The man, a poor key-maker, spent the entire Sunday running from one bank to another. To add to his trouble, no bank had any idea about the return procedures of damaged Rs. 2000 notes. The man is in urgent need of some cash after his wife was diagnosed with lumps in the breast. Jafri had to stand in queue for hours on Saturday to get his money exchanged.
Jafri runs his key shop near Doordarshan Junction in Worli. The businessman, in a coversation with TOI, said his earnings have been “exceptionally bad” since Rs 500 and Rs 1,000 notes were scrapped on Wednesday. “People are not even spending on essentials, do you think they’ll get new keys made?” he asked. “I just had Rs 4,000 and a few hundreds. With one note no longer valid, I don’t know how I will pay for my wife’s treatment,” he said.
The Centre, in a late night move on Sunday, raised daily exchange limit to Rs 4,500 from existing Rs 4,000. The ATM cash withdrawal limit was also raised to Rs 2,500 from Rs 2,000 per day. While, weekly withdrawal limit was raised from Rs 20,000 to Rs 24,000, and removed the daily withdrawal cap of Rs 10,000 from bank counters.
Prime Minister Narendra Modi appeared on television last week and announced the demonetisation of Rs 500 and Rs 1000 notes. The move has received mixed reaction from the common people. A number of cases of mishaps due to chaos have been reported so far.