Mumbai: School returns old Rs 500 notes, asks students to get new ones

Updated: Nov 12, 2016, 15:01 IST | Suraj Ojha and Rajesh Gupta |

You’d think that you only had to worry about the abolished currency you were left holding on to at the time the notes turned to paper at midnight

One of the students who was sent back home with the old currency note
One of the students who was sent back home with the old currency note

You’d think that you only had to worry about the abolished currency you were left holding on to at the time the notes turned to paper at midnight. But the Amar Kor Vidyalaya in Bhandup has taken things a step further by returning the old Rs 500 notes to its class 10 students who had paid it as board exam fees and asked them to pay it again in the new currency.

Read Story: Demonetisation of Rs 500 and Rs 1,000: 10 things you must know

School’s stand
School secretary Maruti Mhatre explained, “Of the 213 students in class 10, 206 students had already paid Rs 425 each as the board exam fees between October 4-8. The total amount we had collected was Rs 87,550, of which Rs 84,500 was in the old Rs 500 currency. After Modi’s announcement, it simply wouldn’t work. So the school authority thought of paying the board fees through the school account and later, we selected 169 students randomly and gave them those Rs 500 notes to get exchanged for the new notes.”

Parents miffed
Kamlakar Sakpal, parent of one of the students who was chosen ad hoc to bring the new R500 currency, told mid-day, “When I returned home, my son showed me the old Rs 500 note and told me that his teacher had returned the money and asked to bring it back when we get the new currency for them,” adding, “This is wrong. How can they return the money after a month now?”

Rs 84k
Sum that the school had in the old Rs 500 notes

169
Students chosen summarily to bring in the new currency

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