Thursday, November 24, 2016

Re: [IAC#RG] Public Query on Demonetisation of Rs. 500 and Rs. 1000 OHD

To:
1) The Governor, Reserve Bank of India

2) The Secretary, Department of Financial Services (GOI),

3) Chief Minister of Delhi

4) Helpline Reserve Bank of India New Delhi

Dear Sirs

Sub: Further Public Queries on Demonetisation of Rs. 500 and Rs. 1000 OHD / SBN

Kindly address my concerns emailed yesterday, in public interest, for modalities of exchanging demonetised SBN notes of Rs. 500 and Rs. 1000 into coins by their bearers.

I am given to understand that my concerns have been considered at the very highest level of Government of India and the response is to immediately prohibit exchange of these notes at the banks. It is thereby implicit that the Govt of India does not have sufficient sum  at the present time to repay me or the poor people of India who have been deceived into accepting these notes.

Because it is very curious that RBI is not adhering to its promise to exchange on demand the notes issued by its Governors from time to time, I am again reminding all of you of section 26 of RBI Act 1934, and accordingly calling upon you, jointly and severally,  to promptly inform me as follows:-

When, where and how can bearers of OHD /SBN notes exchange these for
sum.

I  reiterate that I am rapidly losing faith in currency notes issued by RBI and the stability of the Indian banking system, especially PSU Banks, which is tottering on the verge of collapse due to continuous mismanagement by RBI and interference of political classes, and hence I require to be paid back immediately.

It is also pertinent to mention that after repeated complaints to my Bankers (M/s Andhra Bank) of non-availability of currency notes, I was allowed to withdraw yesterday only Rs. 6,000 in new / unused (ie. 2016 series) notes of Rs. 100 denomination against cheque, through cashier.

However, these notes issued to me by M/s Andhra Bank appear to be fake / defective / forged for the reason that they are issued with consecutive serial numbers. In this connection I refer to the extantCuurency Notes FAQ issued by RBI accessible at

https://www.rbi.org.in/scripts/BS_CurrencyFAQView.aspx?Id=39

It appears therefrom that all notes issued by RBI till August 2006 were serially numbered, and thereafter in 2011 the RBI introduced the international best practice of non-sequential numbering with a view to enhancing operational efficiency and cost effectiveness in banknote printing and  packets of banknotes will have notes which are not sequentially numbered.

It is therefore a great mystery / concern how the PSU banks are issuing these crisp 2016 series sequentially numbered notes to the depositors. I urgently need to know if these notes given to me by Andhra Bank are fake and if public should continue to accept sequentially numbered notes issued after 2011.

All  of you will appreciate that there is a great deal of misinformation and rumours circulating on the unregulated foreign social media networks like Facebook, Twitter, Whatsapp etc. causing us to approach you for with our PUBLIC QUERIES to our genuine concerns.

NB: This communication is sent in larger public interest of persons who insist on financial inclusion in banking system and demand satisfaction for the notes they hold and wish to present for payment in coinage of correct value (value as on stroke of midnight between 8.11.2016 and 9.11.2016).

sincerely




Er. Sarbajit Roy
National Convenor
INDIA FIGHTS CORRUPTION
Convenor
FIPS FORUM (Financial Inclusion and Payment Systems Forum)

Address: B-59 Defence Colony, New Delhi 110024
Tel : +91-8010205897


On Thu, Nov 24, 2016 at 9:27 AM, Sarbajit Roy <sroy.mb@gmail.com> wrote:
To:
1) The Governor, Reserve Bank of India

2) The Secretary, Department of Financial Services (GOI),

3) Chief Minister of Delhi

Dear Sirs

Sub: Public Query on Demonetisation of Rs. 500 and Rs. 1000 OHD

I am informed that the Govt of India on 8 November 2016 has notified that OHD notes of Rs. 500 and Rs. 1,000 are withdrawn and shall not be legal tender w.e.f midnight between 08.11.2016 and 09.11.2016.

The term "legal tender" essentially means "coins or banknotes that must be accepted if offered in payment of a debt"

However, each of the withdrawn note carries the assurance of the Reserve Bank of India, through its Governors, that "I promise to pay the bearer the sum of Five Hundred Rupees". or "I promise to pay the bearer the sum of One Thousand Rupees".

I am holding some OHD note of Rs. 500 and also some OHD notes of Rs. 1000.

I wish to be immediately paid in sum against these notes since I no longer have faith in currency notes issued by RBI and I am also not at all prepared to accept in exchange the new promissory notes being issued by RBI which are presently worthless to me and which contain an unacceptable political slogan.

Furthermore, since these OHD notes with me are genuine bearer notes issued by Governor RBI and withdrawn from ATMs / counters of PSU Banks, I am not prepared to provide / show any identification to exchange them since these are bearer notes.

Accordingly, kindly inform me when, where and how I can immediately exchange my aforesaid OHD notes for their sum.

NB: This communication is sent in larger public interest of persons who insist on financial inclusion in banking system

sincerely




Er. Sarbajit Roy
National Convenor
INDIA FIGHTS CORRUPTION
Convenor
FIPS FORUM (Financial Inclusion and Payment Systems Forum)

Address: B-59 Defence Colony, New Delhi 110024
Tel : +91-8010205897

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