Bank staff union ask for additional infrastructure to handle demonetisation

In 2015-16, as against the indent of 535 crore pieces of Rs 100 Notes, the supply received was only to the tune of 490 crore pieces, says the Union

All India Bank Employees Association (AIBEA) on Monday asked the Indian Banks' Association (IBA) to provide additional infrastructure like more terminals to be provided for branches handling heavy cash to detect fake notes as this problem is aggravated in the current process.
 

The association in a letter to the IBA said that the Reserve Bank of India (RBI) and government should be approached to allow all government departments, agencies and institutions to exchange the banned Rs 500 and Rs 1000 notes in addition to banks and post offices.

RBI should also immediately ensure adequate supply of cash in denominations of Rs 100 and new Rs 500 Notes; ATMs should be re-calibrated on a top priority basis and made ready for use within the shortest possible time.

The union also want extra business hours to be implemented where required but the staff should be deployed on shift basis. Where employees/officers are required to work in late hours, arrangements for conveyance, food, etc. should be made and uniform instructions must be sent by the IBA to all banks on payment of overtime wages/compensation amount.

AIBEA said for the work done in the last few days, instructions should be given to ensure the payment along with this month's salary, special care to be taken by Banks while asking lady employees/officers to work in late hours, additional infrastructure like more terminals, etc. to be provided. Separate arrangements to be made to handle senior citizens and additional machines to be provided to branches handling heavy cash to detect fake notes as this problem is aggravated in the current process.

The entire workforce in the banking sector has risen to the occasion looking to the plight of the customers and general public and have out-performed their duties for the past four days overlooking their physical limitations, said AIBEA.

"While we do not wish to go at this stage into the merits or otherwise of the scheme announced by the government in achieving the purpose for which it has been intended, we would definitely like to point out that the scheme has been announced but without proper preparedness by the RBI to meet the situation," said C H Venkatachalam, general secretary, AIBEA.

There is so much of a chaotic condition prevailing in the bank branches and the situation is unbearable, both for the customers and the general public as well as for the bank officers and employees.

He added, 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. Government and the RBI must be fully aware that there is a huge gap between the Indent and supply of Rs 100 Notes. For example, in the financial year 2015-16, as against the Indent of 535 crores pieces of Rs 100 Notes, the supply received was only to the tune of 490 crore pieces.

Even till now, new Rs 500 Notes have not been issued by the RBI or received the bank branches or Currency Chests.

One cannot understand the reason behind banning the existing Rs 500 Notes and not providing new supply of Rs 500 Notes in time. All customers do not prefer Rs 2000 Notes as was the case with Rs 500 or Rs 1000 Notes. This is also resulting in lot of friction and argument in the branches between the customers and staff as staff is deliberately pushing to give them Rs 2000 Notes, said AIBEA.

It was announced that the ATMs would be ready to function in two days i.e from 11th instant but reality is that most of the ATMs across the country are closed or non-functional or partly functional. This has added additional pressure on the staff and all customers are compelled to come inside the branch to draw cash from their account. Now, it has been told that it may take about another three weeks' time for the ATMs to work normally.

"This is also doubtful because, the existing two lacs ATMs of the Banks are located in various locations including about 35,000 ATMs in the far off rural areas. The ATMs need to re-calibrated with proper trays to accommodate the new denominations of Rs 2000 and Rs 500 which are of different sizes. May be, the software also would require some changes. With acute shortage of Rs 100 Notes, the ATMs are likely to be dead machines for quite some time which would add to the ire of the people. This anger is bound to be shown on the branch staff thus making their life further miserable," said Venkatachalam.

Already, for the past four days, officers and employees in the branches have faced the brunt but with their exemplary patience and commitment to their duties coupled with an admirable sense of social responsibility to the people at large, they have undertaken the job unmindful of physical fatigue and mental exhaustion. They have worked beyond their normally expected capacity and depriving themselves of even their minimum conveniences like lunch, etc. and could complete the work only late in the night in many branches. The pressure has been singularly heavy on the staff directly handling cash, currency chest , etc.