John F. Clark 
An afternoon after the Union authorities announced that financial institution clients could now offer nice rationalization while depositing greater than Rs five 000 in vintage currency notes, each bank has come out with its personal manner to evaluate its customers.
At one of the Primary bank branches in the country-wide capital, the bank manager seemed reluctant to just accept vintage foreign money within the denominations of Rs 500 and Rs 1,000. “This new scheme is to repair the bank officials. They’ll inquire from me why I took cash in old foreign money,” stated the visibly disenchanted supervisor, who did not want to be recognized.
The supervisor asked each client to write down a software detailing why she didn’t deposit the money earlier than December 20. The financial institution has also designed a form asking the customers to fill in info like the call, account variety, and when you consider that while she held an account at the department.
The clients had been additionally being asked approximately the information of their final deposit. A few clients have been asked to attach copies of their PAN in conjunction with their software letters.
The clients of their packages cited numerous reasons for not depositing the cash earlier. However, lengthy bank queues and December 30 is the preliminary deadline for depositing cash have been the maximum cited reasons on the utility forms.
At another publicregionaln bank, the branch managerhads yet to begin accepting old foreign money notes above Rs five 000 in generalfeese. “I’m yet to get instructions from my seniors,” the manager state,dregardingt the situation of not being diagnosed. But the manager turned into clean that no vintage forex would be available every day if the purchaser didn’t have any concrete reasons.
“I can ask for proof of hospitalization or travel because I don’t want to face any inquiry in the destination,” the supervisor stated.
Private banks, which can be under scrutiny over money laundering for businessmen, are greater skeptical. The second-largest Personal bank has popped out with a form asking clients to detail the supply of funds, besides other details.
