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Demonetisation trouble not over, to spill over into new year: Bankers

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A mere four days before the demonetisation deadline of December 30, by when the pains of customers are supposed to allay — as Prime Minister Narendra Modi said — bankers seemed to nurse no hopes of any comfort and expected long queues to slither into the new year and into the months that follow.

“The rush is still there and there’s no hope of any respite. How can there be any when the RBI (Reserve Bank of India) is providing only 20-30 per cent of total cash required at the banks?” All India Bank Employees Association (AIBEA) General Secretary C.H. Venkatachalam told IANS.

“The situation has not improved much. We had written to even RBI Governor Urjit Patel, apprising him of the situation. But then this is India, you cannot expect a swift reply from anyone. There’s no transperancy,” he said.

Venkatachalam expressed his anger also at the sorry state of bank employees who are being targets of disillusioned customers’ wrath for no fault of theirs.

He blamed RBI for eroding customers’ confidence in the institution of banks by not coming up with any satisfactory answers for the instances of new currency being seized all over the country, while none of this is reaching the legitimate candidates.

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