Bankers seek resignation of RBI governor

In the wake of the currency shortage that has hit multiple states across the country and continued for more than two weeks, representatives of All India Bank Employees Association (AIBEA) have alleged negligence by the Reserve Bank of India (RBI) and have sought resignation of the RBI governor.

“The RBI governor has made a statement that there is adequate printing of currency notes. Then where have the currency notes gone? It is high time that the present RBI governor owns up and resigns. RBI is grossly negligent,” states a release issued by AIBEA on Thursday.

State government officials however, indicate that the situation has improved. “We’re trying to alleviate local issues and the situation has begun to normalize. Operations and functions will normalize over the next couple of days,” said state chief secretary, J N Singh.

Bankers pointed out that there is significant shortage of notes of smaller denominations such as 50, 100 and 200, which is a matter of concern. “Notes with denomination of 2,000 constitute the bulk of currency supply and hence, there is shortage of notes of small denominations,” said Janak Rawal, general secretary, Maha Gujarat Bank Employees Association (MGBEA). #casansaar (Source - TOI)