Sudden note ban has led to 'financial chaos', say bank unions

November 14, 2016

Vadodara, Nov 14: Two leading bank unions today criticised the government over demonetisation of Rs 500 and Rs 1,000 notes, saying the move has led to "financial chaos" across the country. In a letter to Indian Banks' Association (IBA), All India Bank Officers' Association (AIBOA) and All India Bank Employees Association (AIBEA) said the decision to withdraw the high-value notes was taken without proper planning or preparation.

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They also highlighted heavy work pressure on employees and officers at bank branches in the wake of demonetisation which has led to customers rushing to exchange the now defunct notes. "Chaotic situation is prevailing at the bank branches and this is unbearable for both customers as well as bank employees and officers," S Nagarajan, General Secretary of AIBOA, and C H Venkatachalam, his counterpart at AIBEA, said in the letter to IBA, the apex body of bank managements.

There is a huge shortage of Rs 100 notes which are now in great demand for routine needs, while most customers are not willing to accept the new Rs 2,000 bill, they said. "The Centre and the Reserve Bank must be fully aware that already there is a huge gap between the indent and supply of Rs 100 notes.

"For example, in 2015-16, as against the indent of 535 crore pieces of Rs 100 notes, the supply received was only to the tune of 490 crore pieces," according to the letter. "One cannot understand the reason behind banning the existing Rs 500 notes and not providing new supply of Rs 500 notes in time," it added.

Most of the 2.20 lakh ATMs across the country are closed or partly functional. This has put additional pressure on the staff and customers are compelled to visit branches to withdraw cash from their accounts, the two unions said.

Nagarajan and Venkatachalam requested the IBA to ensure the RBI supplies adequate cash in denominations of Rs 100 and new Rs 500 notes to ease pressure on banks and provide relief to customers.

Comments

Althaf
 - 
Monday, 14 Nov 2016

Abki baar no bekaar sarkaar

Rikaz
 - 
Monday, 14 Nov 2016

It is an utter failure of Modi Government that it did not make proper prior arrangement.....most of those riches do not have problem they could use their credit card and debit card and foreign income that was diverted before withdrawal of currency....Modi helped them all.....poor's have to suffer because of it they don't have credit card or debit card and some of them do not have bank account.....what is going on....condition is very much pathetic....need to solve it as soon as possible before it is too late.....

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News Network
December 16,2025

Mangaluru, Dec 16: The Mangaluru City police have significantly escalated their campaign against drug trafficking, arresting 25 individuals and booking 12 cases under the Narcotic Drugs and Psychotropic Substances (NDPS) Act between November 30 and December 13. The crackdown resulted in the seizure of a substantial quantity of illicit substances, including 685.6 grams of MDMA and 1.5 kg of ganja.

The success of this recent drive has been significantly boosted by the city’s innovative, QR code-based anonymous reporting system.

"The anonymous reporting system has received an encouraging response. Several recent arrests were made based on inputs received through this system, helping police tighten the noose around drug peddlers," said the City Police Commissioner.

The latest arrests contribute to a robust year-to-date record, underscoring the police's relentless commitment to combating the drug menace.

Up to December 14 this year, the police have registered a total of 107 cases of drug peddling, leading to the arrest of 219 peddlers. Furthermore, they have booked 562 cases of drug consumption, resulting in the arrest of 671 individuals.

The scale of the seizure for the year reflects the magnitude of the problem being tackled: police have seized 320.6 kg of ganja worth ₹88.7 lakh and 1.4 kg of MDMA valued at ₹1.2 crore. Other significant seizures include hydro-weed ganja worth ₹94.7 lakh and cocaine worth ₹1.9 lakh, among others.

The Commissioner emphasized a policy of rigorous enforcement: "We ensure that peddlers are caught red-handed so that they cannot later dispute the case or claim innocence."

To counter the rising trend of substance abuse among youth, the Mangaluru City police have rolled out uniform guidelines for random drug testing across educational institutions.

As part of the drive, tests were conducted in approximately 100 institutions, screening an estimated 5,500 to 6,000 students in the first phase. 20 students tested positive for drug consumption during the initial screening.

Students who tested positive have been provided counselling and are scheduled for re-testing in the second quarter. The testing will also be expanded to students not covered in the first phase. In a move to ensure strict implementation, police personnel were deployed in mufti in some institutions. Reiterating a zero-tolerance stance, the Commissioner confirmed that random testing will continue, and colleges have also been instructed to conduct drug tests at the time of admission to deter substance abuse from an early stage.

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News Network
December 19,2025

Mangaluru: Public transport in Mangaluru is set for a state-led transformation as the government moves to deploy 100 new electric govt buses to replace unreliable private services. The initiative aims to provide a dependable alternative to private operators who have been frequently "cutting trips," leaving thousands of commuters stranded.

The announcement was made by Deputy Commissioner and MCC Administrator Darshan HV during a public phone-in session. The move specifically targets routes where private bus service has become erratic, ensuring that citizens no longer have to rely on a fluctuating private sector for their daily commute.

Restoring the Govt Presence

The transport crisis was brought to the forefront by Ramayya, a resident of Bajal, who highlighted a growing trend of private buses skipping morning and night trips. With the previous KSRTC (govt) services discontinued, residents have been left without a fallback option.

To fix this, the DC confirmed that the PM-eBus Sewa Scheme will bring 100 government-owned electric buses to the city:

•    Phased Deployment: The first 50 of the new 100 government buses are scheduled to arrive by March 2026.

•    State Infrastructure: Two new government depots, including one at Mudipu, are being prepared for operations.

•    Recruitment: The state has already begun training a new batch of government bus drivers to ensure the fleet is operational the moment it arrives.

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News Network
December 16,2025

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Melkar (Bantwal): The 9th Annual Day celebration of SMR Public School, titled “EXCELLENTIA”, was held on December 15 with great enthusiasm and dignity, marking a significant milestone in the institution’s journey towards academic excellence and holistic development.

The programme was inaugurated by Dr. U. T. Iftikar Ali. The chief guests were Dr. Akhtar Hussain, Mr. P. Moosabba Beary, Mr. Zakaria Jokattre, and Dr. T. M. Abdul Rahuf—whose inspiring addresses motivated the students and appreciated the school’s contributions to education.

Mr. Abdul Nasir, Mr. Ibrahim Gadiyar, Mr. Razak Golthamajal, Mr. Sali Koya, Mr. Arshad Hussain, Mr. Ismail Balanoor, Mr. Feroz Bawa, Mr. Sahul Hameed, Mr. Abubakkar, Mr. Hameed K. Mani, Mr. Abdul Majeed (Principal, Melkar Women’s College), and Mr. Abdul Lathief (Former Principal, Melkar Women’s College) were the guests of honour.

The Annual Report was presented by the Headmistress, Ms. Fathimathul Zaheera, highlighting the school’s achievements and progress during the academic year. The Presidential Address was delivered by the Chairman of SMR Public School, Dr. Haji S. M. Rasheed, who emphasised the vital role of education in shaping students’ futures and stressed the importance of discipline, dedication, and consistent effort in achieving 100 per cent academic results.

Secretary of SMR Public School, Mr. Rifath Ahmed, and PTA President, Mr. Sandeep Kumar, were also present on the occasion.

The Annual Day celebration showcased the collective efforts of students and teachers and reaffirmed the school’s commitment to quality education and all-round development. The programme concluded with a vote of thanks, expressing gratitude to all dignitaries, parents, and well-wishers for their support. The 9th Annual Day—EXCELLENTIA—was a memorable and successful event, leaving a lasting impression on everyone present. 

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