Supply adequate cash or face agitation, bank union warns RBI

A major banking sector union on Thursday asked the RBI to supply adequate cash to nationalised bank branches and ATMs or stop cash transactions, otherwise they may resort to agitation and even go on strike.

The All India Bank Employees' Association (AIBEA) however refuted a news report that the unions would strike work next week.

"We will be writing to RBI to ensure supply of adequate cash to all the nationalised bank branches or accept that there is insufficient cash in the system and stop cash transactions," AIBEA General Secretary C.H.Venkatachalam told IANS.

"While there is enough cash with private bank branches and the ATMs run by them, there is no supply of cash to nationalised banks. We also wonder how State Bank of India (SBI) is getting cash to fill in their ATMs 19 times a day in Delhi when other government owned banks do not get any," he said.

Reacting to the news of a strike threat, he said: "As a responsible union we will not resort to any flash strikes. We will have to give 14 days notice before going on strike."

"We will decide our course of agitation after December 12 or 13. Our agitation would include demonstrations and even a strike. We have to discuss with other unions in the banking sector," Venkatachalam added.

Citing the Reserve Bank of India's statements about sufficient cash in the system, Venkatachalam said: "If that is the case, let the RBI remove all restrictions of withdrawals."

He said while the nationalised banks are not getting sufficient supplies of cash, bankers are getting abused by the public for no reason.

"The RBI is testing our patience," he added.