Disfigured currency notes
I recently visited the People’s Bank branch at Dam Street, Colombo 12 to pay my electricity bill. Seeing a handwritten (not by me) figure of No. 12 on one side of my 1000-rupee note the counter clerk politely told me that she could not accept it. Further, she added that the deadline given by the Central Bank to surrender such notes was over. I tendered another note and settled my bill.
But the question is if a bank, whether state or private, will not accept such notes, where else could the public make use of them? Nobody can be so careful and attentive to check such notes in their day-to-day dealings with anybody. It is practically impossible in this busy and time-precious society. Yet those notes circulate amongst themselves but when reaching the banks they become almost dud.
No doubt there are thousands of such notes still in circulation. Imagine how much a man in the street will suffer if his only available 50 or a 100 rupee note is not accepted not only by a bank but by a shop in the street too? If the banks will accept such notes the ‘mudalali’ will not be much concerned as he will include it in his normal deposit to the bank.
Furthermore, what will happen to a passenger on a bus if he or she has such a note and a rude conductor refusing to accept it?
Defacing of currency notes must not be encouraged and simultaneously, dead-lines should not be declared. At least, as a punishment allow those who possess them to get them cashed or exchanged only from a bank or deposit them.
At a time when people are financially struggling, a ‘bank refusal’ is like a man fallen from a tree being gored by a bull.
Nazly Cassim
Colombo 13
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