Thursday, November 24, 2016

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

Totally support this, Sarbajit. This is right. It is outrageous that people are being forced to queue outside banks over some cooked up story that sometimes talks of fake money, sometimes black money and now that it is apparent they don't HAVE notes to give out.... cashless. If this weren't enough, district cooperative banks not being allowed to exchange money, old notes not being allowed to be deposited in small savings accounts, exchange first brought down from 4000 a week to 2000 and now closed without warning, when the RBI circular explicitly stated that the limits would be LIFTED post 24th... it is a complete breach of faith with citizens. You are well within your rights to demand your money back and the note being a bearer's note, you are legally within your rights to refuse to provide identification in order to receive your due. 

Glad you are taking this stand. I will do my best to support you in any manner I am able.

On Thu, Nov 24, 2016 at 9:27 AM, Sarbajit Roy <> wrote:
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I am informed that the Govt of India on 8 November 2016 has notified that OHD notes of Rs. 500 and Rs. 1,000 are withdrawn and shall not be legal tender w.e.f midnight between 08.11.2016 and 09.11.2016.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However, each of the withdrawn note carries the assurance of the Reserve Bank of India, through its Governors, that "I promise to pay the bearer the sum of Five Hundred Rupees".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Furthermore, since these OHD notes with me are genuine bearer notes issued by Governor RBI and withdrawn from ATMs / counters of PSU Banks, I am not prepared to provide / show any identification to exchange them since these are bearer notes.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


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

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

No comments:

Post a Comment