Chennai: All Indian Bank Employees Association (AIBEA) and All India Bank Officers' Association (AIBOA) pointed out that there was no proper preparedness by the Reserve Bank of India (RBI) to meet the situation after Prime Minister Narendra Modi had announced demonetisation of Rs 500 and Rs 1000 currency notes on November 8.
'There is so much of a chaotic condition prevailing in the bank branches across the country and the situation is unbearable, both for the customers and general public as well as for the bank officers and employees', AIBEA General Secretary Ch.Venkatachalam and AIBOA General Secretary S Nagarajan said in a letter to Indian Banks' Association (IBA) Chairman Rajeev Rishi.
They said Rs 100 notes are in dire shortage. Consequently, there is tension in the branches as customers and general public prefer Rs 100 notes for their routine consumption needs and the government and RBI must be fully aware that already there is a huge gap between the indent and supply of Rs 100 notes. In 2015-16, as against the Indent of Rs 535 crore pieces of Rs 100 notes, the supply received was only to the tune of 490 crore pieces, the Union leaders further pointed out in the letter. (UNI)
