Voicing its opinion, All India Bank Employees Association (AIBEA) has condemned the scrapping of high denomination notes, and said that it has led to a ‘financial chaos’; protests will be held by Bank staff union against demonetisation, the Bank staff union has said.
AIBEA has also demanded a criminal action to be taken against 8000 loan defaulters including the liquor baron Vijay Mallya.
Bank staff union against demonetisation – AIBEA demands the names of loan defaulters be disclosed by GOI
“There should be criminal action against 8,000-odd loan defaulters including liquor baron Vijay Mallya for failure to repay the loan amounts…pegged at Rs 80,000 crore.”
-AIBEA General Secretary C V Venkatchalam
“Black money cannot be weed out through demonetisation. For that you require stringent anti-corruption, anti-bribery and amendments to the existing recovery laws“, Venkatachalam added. Furthermore, he questioned as to why the government was not disclosing the names of the black money hoarders and the loan defaulters and why merely a civil case was being pursued gainst Mallya.
In the backdrop of the demonetisation policy, he demanded the government to further announce the names of the black money hoarders and the loan defaulters. The union has also decided that a nationwide protest will be held against demonetisation in case the banks continue to stay cash-starved and the ATMs are not re-calibrated on time.
“The demonetisation move has led to financial chaos. The government has failed completely in its move. The common man is suffering and bankers are feeling the heat. People have money but are not in a position to withdraw. Chaotic situation is prevailing at the bank branches and this is unbearable for customers as well as bank employees and officers.”
He said that a letter has been forwarded to the finance ministry demanding the adequate cash to be sent to the banks to ease the cash crunch. In case the govt fails to act upon the stated demands, nationwide protests will be held by the Bank staff union as said by Venkatachalam.
The move is meant to benefit only those in the corporate sector and the country cannot cope with the cashless system at this stage remarked Venkatachalam.
