You are here: Home » News-IANS » Business-Economy
Business Standard

Cash-strapped on pay day, people gherao bank official in Kolkata

IANS  |  Kolkata 

Irate customers on Thursday gheraoed a manager in southwest and a section of staff protested at the RBI office here as banks and ATMs failed to dispense adequate on pay day, leading to chaos at various places.

Operations at the Punjab National branch in Khidirpur area was affected for some time after customers gheraoed its manager after the former were refused withdrawal of Rs 24,000, the maximum weekly limit as per RBI guidelines after demonetisation.

"In order to serve the maximum number of customers with the available cash, the put a further cap on the withdrawal limit but customers opposed the decision and demanded they be allowed to withdraw the full amount," said Employees Federation of India's General Secretary Pradip Kumar Biswas.

"They gheraoed the branch manager, hampering banking operations for some time," Biswas said. Police intervened to restore normalcy.

Familiar scenes of long queues of customers before branches and automated teller machine outlets seen since November 8 were back to haunt the people since Thursday morning -- the first pay day after the demonetisation of Rs 1,000 and Rs 500 currency notes.

From young working professionals to pensioners, a large number of people queued up long before banks opened.

"Our accounts have been refilled but our pockets are mostly empty. Let's see if we have some luck," a young information technology firm's employee said outside an ATM in Salt Lake, Kolkata's IT hub.

A number of ATMs in the city and its suburbs displayed 'no cash' notices while those still functioning mostly dispensed Rs 2,000 notes.

A man said he went to a to withdraw his salary but was told he could get only Rs 1,500 due to shortage. "I refused and returned home," he said.

Queues at city banks were relatively longer as many people wished to withdraw the maximum amount allowed in order to avoid a crunch in running households for the next few days.

"Withdrawal at ATMs is limited. I need bigger amount to run my house. That's why I am planning to withdraw Rs 24,000 from the bank," said a middle-aged man stading in queue at a nationalised since 7.30 a.m.

Even West Bengal employees faced the crunch heat. The ATMs on state Secretariat Nabanna premises saw a mad rush.

"We had to skip office to withdraw money. Important office work in several departments is hampered due to the adverse situation," a employee complained.

United State Employees' Federation organised a rally and agitated in front of the Reserve of India branch to protest against what they said was acute crisis on the first day of December.

The protesters accused the RBI of not abiding by withdrawal regulations that they themselves implemented.

"The RBI is unable to provide people with the money it promised. It is getting tough for state employees to run their households or even pay for their children's education," a federation member griped.

--IANS

mgr/ssp/tsb/vm

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Cash-strapped on pay day, people gherao bank official in Kolkata

Irate customers on Thursday gheraoed a bank manager in southwest Kolkata and a section of government staff protested at the RBI office here as banks and ATMs failed to dispense adequate cash on pay day, leading to chaos at various places.

Irate customers on Thursday gheraoed a manager in southwest and a section of staff protested at the RBI office here as banks and ATMs failed to dispense adequate on pay day, leading to chaos at various places.

Operations at the Punjab National branch in Khidirpur area was affected for some time after customers gheraoed its manager after the former were refused withdrawal of Rs 24,000, the maximum weekly limit as per RBI guidelines after demonetisation.

"In order to serve the maximum number of customers with the available cash, the put a further cap on the withdrawal limit but customers opposed the decision and demanded they be allowed to withdraw the full amount," said Employees Federation of India's General Secretary Pradip Kumar Biswas.

"They gheraoed the branch manager, hampering banking operations for some time," Biswas said. Police intervened to restore normalcy.

Familiar scenes of long queues of customers before branches and automated teller machine outlets seen since November 8 were back to haunt the people since Thursday morning -- the first pay day after the demonetisation of Rs 1,000 and Rs 500 currency notes.

From young working professionals to pensioners, a large number of people queued up long before banks opened.

"Our accounts have been refilled but our pockets are mostly empty. Let's see if we have some luck," a young information technology firm's employee said outside an ATM in Salt Lake, Kolkata's IT hub.

A number of ATMs in the city and its suburbs displayed 'no cash' notices while those still functioning mostly dispensed Rs 2,000 notes.

A man said he went to a to withdraw his salary but was told he could get only Rs 1,500 due to shortage. "I refused and returned home," he said.

Queues at city banks were relatively longer as many people wished to withdraw the maximum amount allowed in order to avoid a crunch in running households for the next few days.

"Withdrawal at ATMs is limited. I need bigger amount to run my house. That's why I am planning to withdraw Rs 24,000 from the bank," said a middle-aged man stading in queue at a nationalised since 7.30 a.m.

Even West Bengal employees faced the crunch heat. The ATMs on state Secretariat Nabanna premises saw a mad rush.

"We had to skip office to withdraw money. Important office work in several departments is hampered due to the adverse situation," a employee complained.

United State Employees' Federation organised a rally and agitated in front of the Reserve of India branch to protest against what they said was acute crisis on the first day of December.

The protesters accused the RBI of not abiding by withdrawal regulations that they themselves implemented.

"The RBI is unable to provide people with the money it promised. It is getting tough for state employees to run their households or even pay for their children's education," a federation member griped.

--IANS

mgr/ssp/tsb/vm

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Cash-strapped on pay day, people gherao bank official in Kolkata

Irate customers on Thursday gheraoed a manager in southwest and a section of staff protested at the RBI office here as banks and ATMs failed to dispense adequate on pay day, leading to chaos at various places.

Operations at the Punjab National branch in Khidirpur area was affected for some time after customers gheraoed its manager after the former were refused withdrawal of Rs 24,000, the maximum weekly limit as per RBI guidelines after demonetisation.

"In order to serve the maximum number of customers with the available cash, the put a further cap on the withdrawal limit but customers opposed the decision and demanded they be allowed to withdraw the full amount," said Employees Federation of India's General Secretary Pradip Kumar Biswas.

"They gheraoed the branch manager, hampering banking operations for some time," Biswas said. Police intervened to restore normalcy.

Familiar scenes of long queues of customers before branches and automated teller machine outlets seen since November 8 were back to haunt the people since Thursday morning -- the first pay day after the demonetisation of Rs 1,000 and Rs 500 currency notes.

From young working professionals to pensioners, a large number of people queued up long before banks opened.

"Our accounts have been refilled but our pockets are mostly empty. Let's see if we have some luck," a young information technology firm's employee said outside an ATM in Salt Lake, Kolkata's IT hub.

A number of ATMs in the city and its suburbs displayed 'no cash' notices while those still functioning mostly dispensed Rs 2,000 notes.

A man said he went to a to withdraw his salary but was told he could get only Rs 1,500 due to shortage. "I refused and returned home," he said.

Queues at city banks were relatively longer as many people wished to withdraw the maximum amount allowed in order to avoid a crunch in running households for the next few days.

"Withdrawal at ATMs is limited. I need bigger amount to run my house. That's why I am planning to withdraw Rs 24,000 from the bank," said a middle-aged man stading in queue at a nationalised since 7.30 a.m.

Even West Bengal employees faced the crunch heat. The ATMs on state Secretariat Nabanna premises saw a mad rush.

"We had to skip office to withdraw money. Important office work in several departments is hampered due to the adverse situation," a employee complained.

United State Employees' Federation organised a rally and agitated in front of the Reserve of India branch to protest against what they said was acute crisis on the first day of December.

The protesters accused the RBI of not abiding by withdrawal regulations that they themselves implemented.

"The RBI is unable to provide people with the money it promised. It is getting tough for state employees to run their households or even pay for their children's education," a federation member griped.

--IANS

mgr/ssp/tsb/vm

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard