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Bank employees peeved over RBI favouring private banks
Andhra Pradesh and Telangana Bank Employees\' Federation alleged that there was a biased treatment by the Reserve Bank of India towards the public sector banks in the state.
​Hyderabad: Andhra Pradesh and Telangana Bank Employees' Federation alleged that there was a biased treatment by the Reserve Bank of India towards the public sector banks in the state.
General secretary of the federation B S Ram Babu said that the RBI is not able to supply adequate cash. The private banks are being supplied with large amount of cash and in the process the public sector banks are being starved.
That is the reason why one finds long queues in front of public sector banks, he said. Though the federations have demanded that RBI show the records of cash distributed to each bank, it had not responded so far.
Calling it as an unplanned demonetisation, Ram Babu said that before taking such a decision, at least the RBI should have been taken into confidence to find out whether it can meet the demand of notes of lower denomination or not.
Ram Babu said RBI can print 300 crore notes of higher denomination in one month and at this rate it would take a minimum of six-and-a-half months to restore normalcy.
All-India Andhra Bank Employees’ Union, general secretary, T Ravindranath said that demonetisation of notes is one of the steps to curb black money, but lack of proper planning by the Union government had affected every person and now the economy has been pushed into crisis.
They said that the irrational conditions laid down by the government on withdrawal of money for marriages had badly affected various sections of the people.
“Till now no one has withdrawn money for wedding as they are facing problems to fulfill the conditions put forth by the government,” Ravindranath said.
The federation members alleged that many Jan Dhan accounts were opened and they are now being used to deposit black money.
Across the country, around 25 crore accounts have been opened with zero balance. Out of this 24.2 crore accounts have been opened in the public sector banks.
The sudden decision of the government had put the bank employees under severe stress. “We are also human beings. Though we use machines, we have to use common sense at work or else we will be hauled up,” the federation general secretary added.
All the bank employees are working for 9 to 10 hours every day. Leaves are not approved and holidays have also been cancelled, that is the plight of bank officials, he said.
