Jugaadu Punekars skip the bank queue

Last Friday, the Reserve Bank of India (RBI) announced the withdrawal of ₹2,000 notes from circulation. As per the circular, citizens could exchange their currency from May 23 till September 30. While the queues in front of the banks are getting longer each day, folks in the city are finding innovative ways to get rid of the currency.

Sheetha Chacko from Salunkhe Vihaar has found an excuse to shop for herself and her daughter. “Her school reopens next month. So I found this to be the most appropriate time to do her school shopping. I bought all her necessary school items with the notes that were there with me,” Chacko shares. She isn’t the only one relishing shopping, courtesy the 2k notes.

Koregaon Park’s resident Karthik Pillay also shelled the 2,000 notes on himself. “The queue outside the bank is quite long. And we don’t really have the time to stand in the queue, given the long working hours. I just bought a bucket of whey protein with the cash that I had. I need protein anyway. I had one last note which I used at the petrol pump. Although they were initially refusing to give me the change, I asked them to fill my tank,” the 30-year-old explains.

If not shopping, the next trick that Punekars are using is paying their bills at restaurants using the note. Saniya Khan, 30, a Chinchwad resident, confesses, “On Tuesday I went out with my family and while I’ve always paid the bill using online modes of transaction this time I chose to pay them in cash. I have a few more notes, which I would use in the upcoming weekend, given I do step out for dinners quite often.” We have received advancements against tables, liquor sales, boutique banqueting for next six months all in cash. Several citizens are paying their bills with the cash and we cannot even deny them. So what we are doing is paying our vendor payments with the notes. So, the roll over is on,” says 37-year-old Heramb Shelke, owner, 2 BHK diner.

While others are still stepping out, Prasad Pilankar from Baner has found a way to get rid of the notes at the comfort of his house. “I ordered multiple things from online retail apps and chose to pay in cash. In fact I even returned a few things that weren’t needed and I got the return in my bank account directly. Who really has the time to go and take cash out from the bank?” the 26-year-old states.