Can Kuppammal de-demonetise?
Savings found while clearing out the house amounted to Rs 33,000 in 1s, 100s, 500s & 1000s
Published: 26th December 2019 06:02 AM |
R Kuppammal with the demonetised currencies | Express
Express News Service
COIMBATORE: Days after a lifetime of savings in demonetised currencies failed to keep 75-year-old Rangammal alive, a 92-year-old is now having to come to terms with the fact that she might not be able to convert her stash of Rs 33,000 into valid currency notes. A year and a half spent trying to appeal to government officials and bankers could do little to help her cause.
R Kuppammal of Kondayampalayam had spent her life tucking away spare change and loose money into nooks and corners of her house. When demonetisation hit, the nearly-illiterate woman knew nothing about how much the rule would affect her life. However, her son Gopal stepped in and managed to convert the available money into valid currency. Well, not everything it seems.
It was in mid-2018 when the family had to clear out their house while shifting to another that they found a part of Kuppammal’s savings that they had overlooked. In 1s, 100s, 500s and 1,000s, her savings amounted to Rs 33,000. Kuppammal herself had forgotten about storing away all that money. Gopal says that they stumbled upon the money while clearing his mother’s wardrobe. Since then, they have knocked on several doors, been to many offices to get the money exchanged but in vain. Bank officials have made it clear that they can do little to help. If they were to convert the money for one, they explain, it might set a precedent that would allow others to exploit the system.
All India Bank Employees Association (AIBEA) General Secretary C H Venkatachalam says that writing to the finance minister or the governor of Reserve Bank of India could be the only option left. Collector K Rajamani, on his part, said that he would do what he can to help Kuppammal.
Notebandi not friendly
The Tirupur sisters -- Rangammal (75) and Thangammal (78) were faced with a similar situation when they found that their life savings of Rs 44,000 were declared invalid. In November, Rangammal needed treatment for her blood pressure issues. However, the family could not afford it. It was then that the two women came out and declared that they had been saving for years now and the money could help. However, the entire amount turned out to be in demonetised currencies. By the time the news broke, they could do little about it. On December 15, Rangammal succumbed to her illness.
Savings found while clearing out the house amounted to Rs 33,000 in 1s, 100s, 500s & 1000s
Published: 26th December 2019 06:02 AM |
R Kuppammal with the demonetised currencies | Express
Express News Service
COIMBATORE: Days after a lifetime of savings in demonetised currencies failed to keep 75-year-old Rangammal alive, a 92-year-old is now having to come to terms with the fact that she might not be able to convert her stash of Rs 33,000 into valid currency notes. A year and a half spent trying to appeal to government officials and bankers could do little to help her cause.
R Kuppammal of Kondayampalayam had spent her life tucking away spare change and loose money into nooks and corners of her house. When demonetisation hit, the nearly-illiterate woman knew nothing about how much the rule would affect her life. However, her son Gopal stepped in and managed to convert the available money into valid currency. Well, not everything it seems.
It was in mid-2018 when the family had to clear out their house while shifting to another that they found a part of Kuppammal’s savings that they had overlooked. In 1s, 100s, 500s and 1,000s, her savings amounted to Rs 33,000. Kuppammal herself had forgotten about storing away all that money. Gopal says that they stumbled upon the money while clearing his mother’s wardrobe. Since then, they have knocked on several doors, been to many offices to get the money exchanged but in vain. Bank officials have made it clear that they can do little to help. If they were to convert the money for one, they explain, it might set a precedent that would allow others to exploit the system.
All India Bank Employees Association (AIBEA) General Secretary C H Venkatachalam says that writing to the finance minister or the governor of Reserve Bank of India could be the only option left. Collector K Rajamani, on his part, said that he would do what he can to help Kuppammal.
Notebandi not friendly
The Tirupur sisters -- Rangammal (75) and Thangammal (78) were faced with a similar situation when they found that their life savings of Rs 44,000 were declared invalid. In November, Rangammal needed treatment for her blood pressure issues. However, the family could not afford it. It was then that the two women came out and declared that they had been saving for years now and the money could help. However, the entire amount turned out to be in demonetised currencies. By the time the news broke, they could do little about it. On December 15, Rangammal succumbed to her illness.
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