Moradabad trader deposits Rs 1.5 lakh in lower denominations to ease cash crunch

A trader in Uttar Pradesh’s Moradabad city has set a unique example by depositing Rs 1.5 lakh in lower denominations of Rs 100 and 50 and 10 respectively to address the woes of the common man.

A trader in Uttar Pradesh’s Moradabad city has set a unique example by depositing Rs 1.5 lakh in lower denominations of Rs 100 and 50 and 10 respectively to address the woes of the common man.

Avdhesh Kumar Gupta deposited Rs 1.5 lakh in Rs 100, 50 and 10 banknotes after seeing the problems faced by people waiting in queues outside banks and ATM kiosks. (PTI File Photo)

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The do-gooder, Avdhesh Kumar Gupta, has urged others to emulate him in this hour of crisis.

“I deposited my money because of the grievances faced by the people standing in long queues before the ATMs. When I saw the despair on the faces of old people, I could not stop myself from taking this step,” Gupta said.

S Tandon, the branch manager of State Bank of India (SBI), Buddhi Bihar, lauded Gupta for his initiative and expressed hope that others would follow suit.

“We were facing a cash crunch and appealed to our old customers to deposit some amount in the bank. I salute the effort of Avdhesh Gupta to help the people who are in real need of cash,” said Tandon.