"Customers Adapt Ingenious ways of returning 2000 Notes"
The demonetization of high-value currency notes in many countries has often posed significant challenges to individuals, especially when it comes to returning the discontinued currency. One such instance occurred in the case of the withdrawal of 2000 rupee notes in a particular country. However, faced with this predicament, customers showcased their ingenuity by coming up with inventive methods to return their 2000 rupee notes. This article explores some of the ingenious ways customers adapted to overcome this unique situation.
One creative way customers found to return their 2000 rupee notes was through online platforms like Zomato, a popular food delivery app. Taking advantage of Zomato's wide network of restaurants and eateries, individuals began ordering meals worth 2000 rupees or more and paying in cash on delivery (COD) using their 2000 rupee notes. This method allowed them to utilize their old currency while simultaneously satisfying their appetite. The surge in Zomato sales during this period demonstrated customers' adaptability and resourcefulness.
Besides utilizing food delivery apps, customers also leveraged the cash on delivery (COD) option offered by various e-commerce platforms. They placed orders for products worth 2000 rupees or more and selected COD as the payment method. When the delivery personnel arrived with the package, customers handed over their 2000 rupee notes as payment, ensuring a seamless return of their discontinued currency. This method not only facilitated the return of old notes but also boosted the sales of online retailers during that period.
The RBI's decision to withdraw the Rs 2,000 currency note has launched a gold rush. In Mumbai's gold bazaar, some jewellers were charging a premium on the precious metal for accepting the currency note that will soon go out of circulation.
Cash transactions have sharply risen at petrol pumps and cash-paying customers are using Rs 2,000 notes in nine out of ten cases following Friday’s withdrawal of the high-value banknote, the All India Petroleum Dealers Association (AIPDA) has said. The digital payments, which used to be 40% of daily sales at pumps, have dropped to 10% while cash sales have increased dramatically, it said, warning of future troubles for dealers.
If nothing else, God can help. Some people with undisclosed cash in Rs 2,000 notes might try to circulate the cash through temples and other religious institutions, which are allowed to receive anonymous donations, to get back currency notes of smaller denomination.
While shopkeepers are increasingly reluctant to accept Rs 2,000 notes for low-priced items, people are spending these notes on expensive purchases such as consumer durables, furniture, luxury items and travel.
The withdrawal of 2000 rupee notes created a unique challenge for customers, who found themselves in possession of a discontinued currency. However, their ingenuity and resourcefulness prevailed as they devised ingenious methods to return their old notes. Utilizing online platforms like Zomato for food orders or opting for cash on delivery (COD) payments on e-commerce sites, customers found innovative ways to make use of their 2000 rupee notes and simultaneously contribute to the sales of these platforms. This episode serves as a testament to human adaptability and the ability to find solutions even in challenging circumstances.
@RBI@SBI@ICICI Bank @HDFC Bank @Bank of Baroda @Bank of India @Canara Bank @PNB @Axis Bank
@Shekhar Gupta @10 Bestincity @Aparna Thakur
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