Cash Crunch: Bank unions want police protection for branches
Chennai, Nov 30: Two unions in the banking sector have urged the Indian Banks Association (IBA) to advice its member banks to seek police protection for branches as they face cash crunch.
The unions also urged the IBA to take up with Reserve Bank of India (RBI) the issue of supply of currency notes without discriminating between the government and private banks.
“Sir, we are afraid, there would be lot of undue pressures, tensions, conflicts and clashes in the branches and branch managers, officers and other staff would face a big ordeal,” All India Bank Employees Association (AIBEA) and All India Bank Officers’ Association (AIBOA) on Tuesday wrote to the IBA.
“We seek the intervention of IBA to advice the banks to ask for proper police protection in branches to provide proper security to the staff,” the letter notes.
“The next one week to 10 days are going to be much more tense because huge number of employees, workers and retirees/pensioners would throng the bank branches to draw from their salary credit and non-availability of enough cash may lead to serious issues of law and order also,” the unions said.
Citing the allegations that some private banks get more supply of notes from the Reserve Bank of India, the two unions sought that the RBI should ensure supply of currency notes to all banks without any discrimination.