Due To Border Tensions, Army Requests Extension Of Dec 31 Deadline To Exchange And Deposit Old Notes For Soldiers

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Supporters of demonetisation may cite Indian jawans standing tirelessly at the border to those complaining about long ATM lines, but the jawans themselves have some suggestions for the government.

The army will request the government to allow soldiers serving deployments in remote areas an extension on the December 31 RBI deadline to deposit Rs. 500 and Rs. 1000 notes. Many soldiers, serving in Siachen and the LoC who saved up money for cash-intensive plans like weddings and constructions at their village homes, need time off to go to the bank.

“Many of them don’t have a family member who can go to the bank and get the money exchanged or deposited at the banks. So, we are planning to request the government if they can be given some relaxation in the deadline for depositing or exchanging old notes,” am Army source told Mail Today.

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Pakistan’s aggressive streak of ceasefire violations in the weeks after India’s September surgical strikes on terrorist launch pads along the LoC prevents soldiers from taking a leave – especially if the reason is just a trip to the bank.

This, despite long line across banks and ATMs so long scores of people have died waiting for their turn to deposit or withdraw money.

“If we get a waiver, this will be a big relief for our troops as they can do their jobs without the worry of losing their hardearned money in the drive,” the source said.

Most Indian soldiers belong to rural regions, where the absence of netbanking, virtual wallets and UPI means people prefer to use cash for weddings and other expensive occasions.

Half of India’s demonetised cash has reportedly been deposited and exchanged.

Of the Rs 10-11 lakh crore worth of Rs 500 and Rs 1,000 currency notes expected to be surrendered by the stipulated deadline of December 31, cash worth Rs 5.4 lakh crore has already been collected by banks between November 10 and November 18, according to RBI data.

News Source: indiatimes

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