Chennai: Heated arguments and tension broke between bank account holders and the bankers on Saturday when the private and the nationalised banks turned away the account holders informing that cash withdrawals can be done, only the next working day falling on Monday.
As a ripple effect, irritated customers were seen levelling allegations against the bank managers that they were minting money by helping hoarders to exchange the demonetised notes.
“I have a few hundreds of rupees in my account and wanted to withdraw, but after I visited the IOB branch, they said the service was available only for senior citizens and asked me to come another day”, rued D. Priya, a private school teacher.
“I scheduled my banking transaction this Saturday, as I do not work on weekends. I was not aware of the announcement that this Saturday, only senior citizens will be allowed for cash withdrawals. Either I can go to the bank on Monday or have to take leave, losing a day’s salary, she complained.
Responding to the public complaints bank managers attributed that the RBI was allocating very minimal currencies for the banks to operate. Within a few hours, there is no catch and the deposits we get are only scraped notes choking the fund flow. “Due to the failure of RBI, by not providing adequate cash, the bank’s relationship with the customers is now under strain”, a senior manager said, adding that only if the new currencies and ATMs are opened full time, the situation will become normal.
Meanwhile, banking professionals expect a disastrous situation in the coming days as the withdrawal limit had been reduced to Rs 2000.
“Adding to the huge cash crunch last week is the reduction of the limit. A lot of crowd would throng the banks due to it, enabling the conversion of black money.”
CH Venkatachalam, general secretary, All India Bank Employees Association told Deccan Chronicle. Also, as ATMs need to be recalibrated, they may not work for a few more days, he said, adding that the existing trays for Rs 1000 notes in the machines are invalid. Rubbishing the rumours on social media that the top brass of banks is helping the hoarders convert their cash, he said, “There is no possibility of it as it is accountable. Employees at lower levels may help their acquaintances to obtain money without Identity cards, but a lot cannot be done in that manner as every transaction is computed”.
Meanwhile, there were reports that the Reserve bank of India had planned to airlift new 500 currencies for Tamil Nadu and will start dispatching them from Monday.
