NT NETWORK
PANAJI
General secretary of All India Bank Employees Association C Venkatachalam said that even after so many days of demonetisation, the problem of acute cash shortage still persists due to lack of lower denomination notes and non-functional ATMs, adding, government should initiate immediate steps to supply adequate cash to all banks. He said at national level only 20 per cent of cash is available while 80 per cent is deprived to the needy, adding, only 2 per cent cash is flowing through ATMs while 98 per cent is restricted.
He said people feel that RBI is supplying cash but banks are deliberately not extending the payments, adding, the situation is becoming unbearable and bank officers and employees are on the brink of losing their patience due to sheer fatigue.
He was addressing the media along with A Pereira and Subhash Naik George.
Alleging that India cannot be a cashless country, he said, it is only a dream and that by simply banning currency notes black money menace cannot be eradicated.
Further, he said the All India Bank Employees Association meet has taken a serious note of the increasing attempts on the part of bank managements to outsource all types of permanent and perennial jobs and services on the wrong premise of core and non-core activities of the banks.
Venkatachalam informed that RBI has issued several directives to the banks to adopt a model of outsourcing reported to cut cost operations and undertake job of financial inclusion. He said there is a serious concern over it.