Demonetisation: This is why bank employees are demanding Urjit Patel's resignation

Zee Media Bureau

New Delhi: The All India Bank Officers Confederation has called for the resignation of Reserve Bank of India governor Urjit Patel for being a party to demonetisation, which it claims has brought havoc in economy and in the life of common public

"The present governor has utterly failed in his role by taking a crucial economic decision without planning, which has brought havoc to the nation’s economy and lives of the majority," said D Thomas Franco, Senior Vice-President of the confederation.

The Bank officers association has blamed that RBI lacked any roadmap for executing demonetisation.

Franco said that RBI should have advised PM Modi and Finance Minister to advise against it.

Unlike the Banks employees body, common public has supported government's decision of demonetising Rs 500 and Rs 1,000 and is braving hardships due to cash crunch. The currency ban is expected to flush out a part of black money from the economy.