Mumbai: Bandra youth is set to tie the knot, but is tied up in knots instead
Saif Ansari, the 24-year-old sales manager at a retail store, is worried about ensuring that his wedding, scheduled for Sunday, goes through as he has run out of cash in acceptable currency for the celebration
Saif Ansari outside ICICI Bank in Bandra. Pic/Bipin Kokate
Pre-wedding jitters are the last thing on Saif Ansari’s mind. The 24-year-old sales manager at a retail store is more worried about ensuring that his wedding, scheduled for Sunday, goes through as he has run out of cash in acceptable currency for the celebration.
“The withdrawal limit per person a day is only Rs 4,000 in cash. We have enough money for the wedding but it’s all in the now banned Rs 500 and Rs 1,000 denominations. Most payments during a wedding are transacted in cash,” said Ansari, as he queued up outside ICICI Bank’s Bandra branch at 8.45 am today.
To increase chances of more encashment, Ansari’s father and two cousins, who have come down from Dehradun, for the wedding, had queued up elsewhere. “Without such an arrangement, we won’t be able to exchange enough cash before the wedding,” he said.
Yesterday, Ansari’s father stood in line to get cash as the others attended to last-minute wedding preparations.
Ansari said the family had withdrawn large sums of money — in denominations of Rs 500 and Rs 1,000 — last week to be better prepared for any sudden expenditure. “That idea has now backfired. How much can we depend on credit alone? We are trying to manage with whatever cash we have,” said the Bandra resident.
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