Unions: Banks are scapegoat

Bank unions have asked the government to order a CBI inquiry into the leakage of the new currency.

Speaking to this newspaper, Vishwas Utagi, of the AIBEA said the RBI has been giving more money to the private sector banks than the public sector banks.

He also points out that till today the cooperative banks have not got a single paise, and they could have helped to ease the burden and hassles people in rural areas are facing.

“The frequent news that huge amounts of new currency notes are detected with some big people is creating suspicion on bank staff. Ordinary bank branches or staff cannot do this because they have been supplied with limited cash and the computer system will not permit such a huge withdrawal,” Moneylife quoted Ch Venkatachalam, general secretary of AIBEA, as saying.

He further reportedly found fault with private contractors of ATMs as they don’t maintain a record of money they receive. “RBI is also not providing det-ails of cash supplied to each bank or bank bra-nch and to ATM contractors. Why is there is no transparency,” he questions.