Demonetisation: Banks open after a day’s break as cash crunch continues to hurt people

Bank branches across the country reopened after a day's break on Monday with a heavy footfall at cash counters. It was Saturday when people were left disappointed again due to inoperational ATMs that wore 'no cash' boards.  

Even on Friday, the banks faced tough time managing customers who made serpentine queues to withdraw money.

CH Venkatachalam, chief of the All India Bank Employees’ Association (AIBEA), at a recent press conference in Chennai had said the staff will protest in the next 10 days to bring their plight to the notice of the government.

On 2 December, AIBEA and the All India Bank Officers' Association wrote a letter detailing the hardships faced by banks employees. 

The acute shortage of currency notes is forcing branches to step up cash disbursal and is resulting in quarrel, abuses, insinuations on bank staff, the letter said.

The letter further talked about cash crunch at banks. "While RBI is repeatedly making statements that ample currency is being given to banks, the reality is otherwise. The public feels that RBI is supplying cash to Banks and bank employees are deliberately not extending payments," it read.