NON ACCEPTANCE OF LEGAL TENDER MONEY
Jayendra chunara
(Querist) 08 February 2017
This query is : Resolved
Respected Sirs
I am jayendra chunara working in nationalized bank as cashier and my problem is related to currency notes
As a cashier i have to accept every denomination coins and notes but customer who comes to withdraw demand notes of their choices and that is creating much problem in operations of cash transactions ppl are not accepting 10 rs notes and coins and demands different types of notes of their choices which is not possible for me to comply so I have to fight every day with most of the customer as they deny to accept notes /coins which I tender
So kindly help me and is there anything to complain against customer as they deny accepting what I give
Guest
(Expert) 08 February 2017
Mr. Jayendra,
First of all I can convey my doubt that it is not your personal problem, as a cashier of the bank, rather an academic query on legal tender of bank notes. The reason is quite evident that instead of bringing the problem to the notice of the management, you preferred to bring your that at the LCI.
However, if there even a slight truth in your story, you may know that yours is not a legal problem, but a clear case of managerial incompetence to handle the situation and manage the affairs of the banking transactions to cater to the needs of its customers.
You should know that you are not tendering the the coins and notes to your customers in lieu of having made any transaction of sale purchase with them. The come to you to withdraw their money from the bank at the time of their need, not to get their money in shape of coins. The question arises, whether your bank is drawing from RBI or stocking the money only in the shape of noted of smaller denomination like ten rupees notes and coins? So far accepting smaller notes or coins from public, you can't deny accepting such notes for and on behalf of the RBI or as of banking conditions.
Guest
(Expert) 08 February 2017
Mr. Jayendra,
First of all I can convey my doubt that it is not your personal problem, as a cashier of the bank, rather an academic query on legal tender of bank notes. The reason is quite evident that instead of bringing the problem to the notice of the management, you preferred to bring your that at the LCI.
However, if there even a slight truth in your story, you may know that yours is not a legal problem, but a clear case of managerial incompetence to handle the situation and manage the affairs of the banking transactions to cater to the needs of its customers.
You should know that you are not tendering the the coins and notes to your customers in lieu of having made any transaction of sale purchase with them. The come to you to withdraw their money from the bank at the time of their need, not to get their money in shape of coins. The question arises, whether your bank is drawing from RBI or stocking the money only in the shape of noted of smaller denomination like ten rupees notes and coins? So far accepting smaller notes or coins from public, you can't deny accepting such notes for and on behalf of the RBI or as of banking conditions.
Jayendra chunara
(Querist) 08 February 2017
And I am not giving all withdrawal amount in coins and 10 rs notes i give only 10-20% amount in small denominations remaining are big notes
Jayendra chunara
(Querist) 08 February 2017
And I am not giving all withdrawal amount in coins and 10 rs notes i give only 10-20% amount in small denominations remaining are big notes
Guest
(Expert) 08 February 2017
Mr. Jayendra,
The clear answer for you is, don't expect from anyone here to provided answer to your academic exercise, this is not your personal problem. If you are really a bank employee, not a student, for your official problem you may report the matter to your superiors, who should provide you currency in appropriate denominations, as you cannot impose your own wishes on the bank customers to accept coins in withdrawal of their own deposits with the bank.
Rajendra K Goyal
(Expert) 08 February 2017
Bank is associated with the service, if Bank is in the position to provide demanded denomination it should and generally provide.
Personally you can not force customer of the Bank till Bank has issued specific instructions.
Guest
(Expert) 09 February 2017
Usha ji,
Thanks for agreeing with me.
Jayendra chunara
(Querist) 09 February 2017
@dhingraji. So u want to tell that I should provide denominations of their choice? And they have right to deny accepting notes and coins?
Jayendra chunara
(Querist) 09 February 2017
@dhingraji. So u want to tell that I should provide denominations of their choice? And they have right to deny accepting notes and coins? And I would advice you to refer consumer cases on rbi websites regarding insistence on denominations
Guest
(Expert) 09 February 2017
Mr. Jayendra Chunara,
So, you want 100% spoon feeding for the answer to your academic exercise?
Also, if you are really a cashier with the bank, which is unlikely, do you want to tell me that your official problems should be solved by outsiders, rather than your own bank managers, who are paid for that?
Also, as per your statement, if you pay 10-20% amount in small denominations, do you want to tell me that you prefer to waste plenty of your official time in counting of small denominations at first by you and later for verification by the concerned account holder and to cause undue harassment to the other waiting public?
Also, do you want to tell me that if some depositor withdraws Rs. 5,00,000 from his account you prefer to give him coins and ten rupee notes worth the amount of Rs.1,00,000?
Still further, do you want to tell me that the depositors coming to you to deposit their money deposit mostly in coins and ten rupee notes and your bank has opened branch to serve the beggars and the residents of JJ clusters. Even the residents of JJ clusters don't deposit small coins and ten rupee notes, what to say of other public, businessmen, professionals and corporate entities.
MIND IT, YOU SHOULD NOT TRY TO BE OVER SMART, AS YOUR FABRICATED STORY CAN VERY WELL BE UNDERSTOOD BY ANYONE, AT FIRST FROM WRONG CLASSIFICATION OF YOUR QUERY AND THEREAFTER FROM YOUR OWN STATEMENT, "i give only 10-20% amount in small denominations."
Jayendra chunara
(Querist) 09 February 2017
My question is very simple can any one deny accepting any denomination and don't stick to my example given i don't force to accept the notes given by me
I want just a legal answer of my question don't take any1 's side like public or bank
Jayendra chunara
(Querist) 09 February 2017
And I am agree with rajendra sir as if I have all denominations notes i can give any denom which they want but after demonetization u know how poor situation is of banks we have to rely on deposits by customer
Rajendra K Goyal
(Expert) 09 February 2017
Author,
You are indulging in academic arguments.
Post any practical legal problem if you are facing.
For official matters relating to procedure, refer and have guidelines from your controllers, whose guidelines are applicable in your case and not the advice from this forum.
Jayendra chunara
(Querist) 09 February 2017
Thanks rajendra goyal actually I was facing procedural problem so thought I should know as a banker which are my rights and which are customer's as this has been major problem in branch
