Irritated bankers ask RBI to come clear on demonetisation

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Mumbai : Several irritated bankers are protesting against the Reserve Bank of India, demanding transparency from the Central Bank on its handling of the demonetisation issue.

In a letter to the RBI Governor Urgit Patel the biggest bank staff association has demanded that the regulator should explain the steps taken to handle the situation rather than issue circulars and tweak rules by the hour.

CH Venkatachalam, general secretary, All India Banks Employee Association said that they had written letter to RBI governor so that it could come clean on the issue as there was no transparency on the part of the regulator. RBI should disclose how much currency has been printed and how much they have distributed to the banks so that people can be properly

The bank employees’ association also wrote to the Indian Banks Association against the multiple circulars issued by the central bank and how they were creating problems for bank employees.

IBA chief Rajeev Rishi said that RBI was issuing umpteen number of instructions every day and the branch staff could not cope up with such orders —sometimes they created more problems than offering solutions. The association has also told IBA that bank employees have been under severe pressure due to tensions, conflicts and clashes breaking out inside bank branches.
The letter further said that they siought IBA’s I intervention to ask for proper police protection in branches.