Cash Shortage To Continue For 4 To 5 Months says Bank Employees Union

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Kolkata: The Bank Employees Federation of India (BEFI) has said cash note shortage will proceed for another four to five months regardless of the possibility that the nation’s each of the four coin squeeze offices work at ideal limit.

As per them, the money shortage overflowing to one week from now will make individuals more anxious while accepting and pulling back compensation will get to be troublesome.

“Cash shortage will continue even if the four currency note printing presses run at their optimum capacity. It will take four to five months to restore normalcy in cash supply,” P K Biswas, general secretary of bank employees’ union BEFI, said here. 

Mr Biswas charged that a few clients have vandalized bank property in some of branches of open division banks and stopped keeping money operations because of money lack post-demonetisation.

As of March this year, there were 15,707 million bits of old Rs 500 notes and 6,326 million bits of Rs 1,000 notes available for use, the union said.

The circumstance “can turn more regrettable” in a week or somewhere in the vicinity if the clients confront troubles in pulling back their pay rates from banks and ATMs, the bank representatives’ union said.

It said printing ink and dice for new group notes have come to the Salboni printing office in West Bengal, yet when the real printing will begin is yet to be known.