Cash crunch: Bank unions blame Govt, threaten agitation
Cash crunch: Bank unions blame Govt, threaten agitation Claiming that bank staff is facing public anger due to cash crunch at banks and ATMs, the All-India Banks Employees Association (AIBEA) today blamed the government for the malfunction and threatened to launch an agitation. Bank employees are facing the wrath of the public for a problem created by the government along with the RBI, association's general secretary C H Venkatachalam said. "Customers are shouting at us and abusing bank staff for no fault of theirs. Mere statements will not help. Concrete, immediate action is needed to improve the supply of currency notes," he told reports. Banks in UP, MP, Rajasthan, Gujarat, Telangana, Andhra and Karnataka have been facing severe cash shortages, with many ATMs showing 'no cash' signboards, causing inconvenience to the common man. Blaming the government and the Reserve Bank for inadequate supply of cash, he said, in fact, the problem started with the decision to print Rs 2,000 notes after the note-ban announcement in November 2016. "If the Rs 1,000-notes were withdrawn to prevent black money and cash hoarding, it is only obvious now that both have become easier with the Rs 2,000 notes," he said. He blamed the central government for the trouble the banks are facing today. "The RBI governor has made a statement that adequate amount of currency notes are printed. But then where have these notes gone? Are they not to investigate? Are they not to ensure that banks have enough cash to meet the requirements of the public?" he asked. He demanded that the government immediately withdraw the Bill. "It is not a uniform cash crunch problem. It is there in geographies like Telangana and Bihar. We are hoping that the problem will be resolved by tomorrow because cash is in transition and it is reaching these states by today evening," SBI chairman Rajnish Kumar told reporters in New Delhi. -PTC News
