Bank unions to protest in front of RBI demanding transparency in cash supply

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The All India Bank Employee Association and Bank officer Association will stage a protest in front of the RBI office in Hyderabad on Wednesday afternoon to highlight the problems faced by banks due to cash crisis.

Even a month after demonetisation, banks continue to be overloaded with work and with angry customers to deal with, the pressure on bank employees has increased. Even though RBI claims to have released sufficient currency to banks, people are facing huge problems.

“We want to demonstrate the problems faced by the banks and bank employees. RBI is claiming to have released sufficient cash, and the guidelines say people can withdraw Rs. 24,000 a week but banks are not in a position to even provide Rs. 5000 to people,” said Anil Kumar, Telangana General Secretary of All India Bank Officer Association.

The AIBOA and AIBEA demands transparency in cash supply by RBI.

“We want to know how many notes were printed and distributed to every branch of the banks. We deal with the customers and understand their inconvenience,” he added.

After a three-day bank holiday, the banks and ATMs were crowded and banks remained cashless. The ATMs remained with the “No Cash” board, and banks remain helpless, he added.

Bank Employee Federation of India Telangana and Andhra Pradesh General Secretary, P Venkatramaiah, is scheduled to hold a meeting with RBI regional director in Hyderabad.

“In Telangana alone, banks have collected more than Rs. 35000 crore in old currencies but till date the supply is only Rs. 13500 crore,” Venkatramaiah explained.

“We want RBI to provide proper supply of cash. There are allegations that RBI has supplied more cash to private banks than public sector banks, while public sector banks have been facing cash shortage,” he added.

He also demanded proper security and protection to bank employees and bank properties.

“Customers are frustrated; sometimes we have to handle the angry crowd. We need more security and protection for our employees,” he said.

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