HDFC bank you made my day

Banks opened today after a day’s off and for the exchange and deposit of old 500 and 1000 currency notes. I didn’t had much cash in hand so thought of visiting bank today itself. I was sure to visit HDFC bank only because till now my banking relation with them was more than my expectation. I was sure this time too they will help me. I knew today privilege customer tag will not help me or anyone else but still wanted to go there.

The moment I reached there, I could see disciplined queue (no panic) at the branch. I entered in and check the procedure for cash withdrawal first, then deposit. For withdrawal photo copy of id card was required, which I was not carrying, so thought of depositing the amount in my account. Then an employee of the bank told me that we need photocopy for deposit as well. Then I told her that, I have an account with the bank and my PAN card details are in my account. Employee asked me to wait till she confirms and come back. In 2 minutes time she came back and told I just need to fill in deposit slip and stand in a different queue. I was carrying my bank cheque book to support my claim of being a bank customer.

Though was queue was big but it was moving fast as 2 persons were assigned at one counter so that things can move faster. While we were standing in queue one employee from the bank came to each one of us to check whether the details filled in, by us in the deposit form was correct or not. In the event of error, she helped them in its rectification. When people asked the purpose of doing so, she said this is to help you process your form faster. Forms with error will either need fresh form or signature. That is time taking, if everything is correct then you can leave the counter soon.

Within 25 mins I was at the counter to deposit money. My amount was small but still all necessary verification were done. During the process I requested the person, is it possible to withdraw some money from my account today for basic needs. I was asked the amount to be withdrawn, my response was 1000rs. She said fine and asked me to give her a self cheque. I filled in the details to the cheque, in the mean while she attended the next customer. Once I filled details in cheque, forwarded it to her, she asked me for my PAN card, which I gave her.  She jolted down my PAN number in the cheque and handed over the money to me.

I asked her what was the need for PAN card for a small withdrawal like 1000rs? Her response was today even if you withdraw one rupee PAN card is mandatory. I said thanks and left the counter.

Before leaving I just looked around at the bank one more time and could see all people standing there were calm, even bank’s manager was out of his cabin to support the customers. Employees of the bank were all around the premises helping people in filling the form and other banking activities. When I entered the bank we just has 2 counters but soon enough they created one more counter for senior citizens. How thoughtful and quick.

My decision to visit HDFC Bank was not wrong, they made my day, I was prepared to stand for atleast 2-3 hours for this activity but HDFC Bank’s efficient staff and supportive management made things so easy not only for me but also for other customers.

Commotion due to demonetization of 500 and 1000 rs in India

Yesterday (8/11/2016) was like any other normal day for me till evening. But suddenly things changed and what followed was huge confusion and commotion among masses of India. Yeah, India was going to witness a historic moment in couple of hours. Indian Government decided to nonrecognition India currency in the denomination of 500 and 1000 instead will launch new 500 and 2000 currency notes.  This recognition was going to happen by midnight of 8/11/2016. Banks and ATM will not function the following day.

When I received the first Whatsapp message from a friend of mine, took it in a casual way thinking it’s a prank. 10 mins later our building security knocked at my door, I thought he had something important to tell. I asked, what happened? His reply was tomorrow onwards 500 and 1000rs note is banned in India, my reaction was what? Who told you, how did you come to know about it, where my next series of question to him? He was already in panic and my questions added fuel to fire. He said tune in to any news channel.

Once security guard told me about it, then I thought of checking it myself. Who else can I rely upon at such crisis hours, Google, savior of millions. I bet most of the people would have done the same thing. I read about it and the first thing that came to my thought do I have currency notes other than 500 and 1000rs? And what will be the fate of those 500 and 1000rs note in my custody, even though it’s a small amount but still, every penny matters.

In next couple of minutes I was thronged with Whatsapp messages about the news and the confusion it lead to the mind of people. I decided to call my friends and get better picture but then thought of waiting till morning and get detailed information from newspaper.

I have never waited for newspaper so eagerly as I did on 9/11/2016 but paper didn’t come L. I knew few of my family members will call me today to get firsthand information and will have to help them with their queries.  My last resort was google again, I started reading more about it so that am well equipped to answer my friends and family.  No sooner did I finish my research I received a call, it was from my mom, the first thing I asked was “you called me know about the currency nonrecognition?” her response was yes. I said nothing to worry just take the existing 500 and 1000 rs currency to your bank and they will credit it to your account.  She has read it in paper but the panic among people added to her anxiety. It was then I came to know that still people are unclear about the entire thing. What has worsened the situation is the unexpected bank holiday and non-functional ATMs.

Next call was from my cousin again same topic he too had confusions but his biggest challenge was all his patients were either giving him 500 or 1000rs currency today. With no option in hand he was taking it as he is duty bound to look after ill people. But a strange incident happened with him

“ An elderly lady came to him and bought few medicines from him and gave him 1000rs currency, he took it and gave the balance amount. Lady then told him I have two more 1000rs currency you take that also and when you covert then give it back to me. No worries I can wait for few days, my cousin said no to her proposal and explained her that she herself can get the currency converted.” The lady was not convinced, is what my cousin could interpret from her expression.

I am thinking if we educated people have to do so much research and help each other, what will be the plight of uneducated people? Especially in villages, can just hope that no one fools, innocent people of their hard earned money. This is the best time for some people to come forward as savior of people and dupe them of their money.

It is testing time for banks and post offices as they have a huge responsibility of exchanging the currency and handling people who will throng into the bank tomorrow when it opens up for transaction. Success of this strategic thought depends on its successful implementation. We need to render our support to make it thought a huge success.