Coop banks barred from exchanging old notes

Mumbai - The Reserve Bank of India has now allowed district cooperative banks to allow cash withdrawals, an exercise which was prohibited post demonetisation. However, consumers are not allowed to exchange against the delegitimised notes (Rs. 500 and Rs. 1000). But this has not gone down well with the Maharashtra State Cooperative Urban Bank Federation, whose president Vidyadhar Anaskar feels that the RBI is being unfair to the consumers of DCCB and they should scrap the decision.