Burmese workers and traders face problem on demonetization of Indian currencies

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A report said that many of Burmese migrant workers and traders in Mizoram state and New Delhi in India have been faced problem on exchanging Indian currencies after the Prime Minister Narendra Modi announced that Rs 500 and Rs 1000 currency notes were demonetized on 8Th November 2016.

Although the currency notes of these two denominations have become invalid, they can exchange at in any bank or post office by showing ID proof. Besides depositing money in bank accounts, the Rs 500 and Rs 1000 notes can also be exchanged with lower denomination currency notes at designated banks and post offices on production of valid government identity cards like PAN, Aadhaar and Election Card.

However, most of the Burmese migrant workers and traders have no Identity cards for exchanging the currencies or withdrawing new currency of 2000 notes.

“As we are not the citizens, we have no right to have bank account/ATM card and ID card or PAN card. That is the main problem. That’s why we asked some friends and work owners,” said a Burmese trader in Aizawl, Mizoram state.

A Burmese waiver also expressed that “We were very worried when we heard the news. We have no identity cards; even some of us cannot speak in Mizo language.”

Similarly, many refugees in New Delhi are being faced the problem of banning Rs. 500 and Rs. 1000 currency notes earlier. But now they can use their UNHCR cards for exchanging with lower denomination currency notes at some banks.

After Rs. 2000 notes launched, the Reserve Bank of India (RBI) has issued the new high-security Rs 500 notes on Sunday evening, bringing respite to people struggling for smaller change.

The demonetization was done in an effort to stop the counterfeiting of the current banknotes alleged to be used for funding terrorism and for cracking down on black money in the country.

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