Bank officers hold demonstration at RBI offices across India

Members of All India Bank Officers' Confederation (AIBOC) today held demonstrations at various RBI offices, including Mint Road headquarters in Mumbai, demanding adequate cash availability to banks and complete withdrawal of deposit cap rules.

Besides Delhi, demonstrations were held at various offices of RBI, including its head offices in Kolkata, Chennai, Bengaluru and Jaipur.

AIBOC in a statement said that officers, including women, who were marching from RBI regional office to Jantar Mantar were forced to board a bus and were taken away to Parliament Street Police Station.

Police also picked up protesting officers after the banking hours from other places as well under the Section 144.

Pointing out that the banking system itself is losing credibility because of frequent changes in RBI/government policies, AIBOC General Secretary Harvinder Singh said customer dissatisfaction is increasing because of chaos and confusion created in implementation of the scheme.

"Bank Officers are being subjected to the anger, anguish and wrath of customers or general public due to short supply of currency notes to the banks, particularly to Public Sector banks," it said.

Bankers know banking best so they should be not involved in questioning for deposit taking, he said, adding they should not be subjected to this.

Under all round attack, RBI today partially modified guidelines saying KYC compliant account holders can deposits more than Rs 5,000 in old currency notes without being questioned by bank officials.

Earlier this week, RBI issued a notification directing banks to conduct due diligence of customers who wish to deposit more than Rs 5,000 in old currency till December 30.Members of All India Bank Officers' Confederation (AIBOC) today held demonstrations at various RBI offices, including Mint Road headquarters in Mumbai, demanding adequate cash availability to banks and complete withdrawal of deposit cap rules.

Besides Delhi, demonstrations were held at various offices of RBI, including its head offices in Kolkata, Chennai, Bengaluru and Jaipur.

AIBOC in a statement said that officers, including women, who were marching from RBI regional office to Jantar Mantar were forced to board a bus and were taken away to Parliament Street Police Station.

Police also picked up protesting officers after the banking hours from other places as well under the Section 144.

Pointing out that the banking system itself is losing credibility because of frequent changes in RBI/government policies, AIBOC General Secretary Harvinder Singh said customer dissatisfaction is increasing because of chaos and confusion created in implementation of the scheme.

"Bank Officers are being subjected to the anger, anguish and wrath of customers or general public due to short supply of currency notes to the banks, particularly to Public Sector banks," it said.

Bankers know banking best so they should be not involved in questioning for deposit taking, he said, adding they should not be subjected to this.

Under all round attack, RBI today partially modified guidelines saying KYC compliant account holders can deposits more than Rs 5,000 in old currency notes without being questioned by bank officials.

Earlier this week, RBI issued a notification directing banks to conduct due diligence of customers who wish to deposit more than Rs 5,000 in old currency till December 30.