Demonetisation- the banker's plight

People have been lining up outside banks and ATMs since the announcement of demonetisation came. Bank staff have been direct victims of people's ire

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The new move of the government to ink customers coming to exchange their notes has become the latest addition to the burder bank staff across the country were already carrying. With no additional staff or counters to spare, the indelible ink is a huge inconvenience.

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"Our staff and our resources have been put to work on full capacity. There is no additional staff to ink the customers and from Wednesday it has only become an added stress. Not just for the bank staff but also the customer", said a banker

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People have been lining up outside banks and ATMs since the announcement of demonetisation came. Bank staff have been direct victims of people's ire. "Panic withdrawal is evident. People feel they are being harassed by not being allowed to withdraw or exchange as much as they want. The ink is only for those who are exchanging money to avoid repeat transaction but it is definitely adding to the stress", said Venugopal M, Vice President of a Bankers' Association.

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"There is no cash crunch from RBI. There is enough money with banks to disimburse to people. But people are angry about being made to wait and the rush is causing more confusion and panic. The longest queue we have is for exchange and hence we have now made seperate lines for deposit and withdrawal. Having to wait at banks and ATMs to withdraw small amounts of money is causing tension between bankers and public", he added

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The pressure of executing government's decision in on them, the stress of irate customers is on them, the complusion to work extended hours and through holidays is on them, bankers in India are in a double-edged sword situation. Under fire from the government and under fire from the public alike


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