Here is why Banks employees want to shut shop for 15 days

Even those handling wads of notes on a daily basis are a harried lot. The reference is to bank employees. The struggle to manage the cash requirement of common public has raised their stress level. They would like the Reserve Bank of India( RBI)to close bank branches until sufficient quantities of currency notes supplies reach banks.

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Mumbai: Even those handling wads of notes on a daily basis are a harried lot. The reference is to bank employees struggling to manage the cash requirement of common public.

They would like the Reserve Bank of India( RBI)to close bank branches until sufficient quantities of currency note supplies reach banks.

As per The Economic Times report, there have been instances where impatient customers have harassed bank staffers and indulged in arson and physical assault amid a cash shortage following demonetisation of high denomination notes last month.

“RBI should take a view to stop banking operations for 15 days till adequate money is available. Let RBI close the banks till money comes,” said CH Venkatachalam, chief of the All India Bank Employees’Association (AIBEA). He ruled out any form of a strike because it would only add to the woes of the people.

AIBEA is Chennai-based and the oldest and largest national trade union of bank employees in India.

The government had declared Rs 1,000 and Rs 500 currency notes invalid on November 9, amounting to 85% of the notes in circulation in the system.

The cash crunch has resulted in long queues outside banks and ATMs.