RBI admits there is note scarcity in Kerala
Thiruvananthapuram: Bank employees’ organizations said that RBI Regional Director S Narasimhaswamy has admitted that there is serious note scarcity in the state and efforts are on to resolve the crisis.
The delegation that met the RBI office seeking a resolution to the currency shortage also demanded that the RBI must convey the message about note scarcity to the public through media and other means. However, the RBI officer is known to have responded that it is a policy matter that needs consultation at the central level.
The delegation had members from the All India Bank Employees Association, All India Bank Officers’ Association and All India Co-operative Bank Employees Federation. The situation was prompted by the worrisome drop in the currency levels in the bank chests in the state.
There is an immense shortage for the currency denomination of Rs.100 and Rs.500. The bank employee organizations also demonstrated in front of the RBI seeking a shut down of the banking operations if necessary cash cannot be arranged for.
Organization leaders like K Muralidharan Pillai, C D John, K S Krishna, Aniyan Mathew, Sherafuddin Moosa Koya, N Jayamohan, S Suresh Kumar, and R Chandrasekhar were present for the deliberations.