Situation turning violent due to cash-crunch : Intelligence reported Govt

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With law and order deteriorating in Agra after demonetisation, particularly as the salary day approaches, the intelligence agencies have warned against an imminent breakout of violence over the cash crisis from December 1 onwards.

The anger of the aam aadmi is growing with each passing day due to the cash crunch, and this might soon turn violent.

The intelligence agencies warned of the situation turning violent where the banks might be log-jammed with government employees flocking in to withdraw their salaries and pensions from December 1.

 

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INCIDENTS OF VIOLENCE HAVE ALREADY BEGUN

One such incident of violence broke out at the Allahabad Bank branch in Kalindi Vihar of Agra, where a woman started pelting stones at the bank when the people waiting outside the bank were told by the bank employees that the bank did not have any cash.

The bank staff had to call the police to control the mob which was ready to storm the bank in anger.

A similar state of public anger was seen in Bah, Pinahat, Fatehpur Sikri, Barhan villages, where women were seen crying at the bank gates after being turned down by the bank staff.

BANKS NEED RS 1300 CRORES EVERY DAY, BUT GET ONLY RS 8 CR

A senior bank official told PTI on the condition of anonymity that Agra needed Rs 1300 crores of cash every day, but all the bank branches were receiving a combined sum of only Rs 8 crores per day.

vernment employees flocking in to withdraw their salaries and pensions from December 1.
ALSO READ | Banks with salary a/cs to get 20-30 % extra cash: 10 steps by RBI to fight payday chaos

Crash crunch and peoples’ suffering will continue till March, 2017: Ashvin Parekh to India Today

INCIDENTS OF VIOLENCE HAVE ALREADY BEGUN

One such incident of violence broke out at the Allahabad Bank branch in Kalindi Vihar of Agra, where a woman started pelting stones at the bank when the people waiting outside the bank were told by the bank employees that the bank did not have any cash.

The bank staff had to call the police to control the mob which was ready to storm the bank in anger.

A similar state of public anger was seen in Bah, Pinahat, Fatehpur Sikri, Barhan villages, where women were seen crying at the bank gates after being turned down by the bank staff.

ALSO READ | Why RBI relaxed withdrawal limit for some? 5 points that explain the decision

OPINION: Those hailing demonetisation are only fooling themselves

BANKS NEED RS 1300 CRORES EVERY DAY, BUT GET ONLY RS 8 CR
A senior bank official told India Today on the condition of anonymity that Agra needed Rs 1300 crores of cash every day, but all the bank branches were receiving a combined sum of only Rs 8 crores per day.

He said that a total of Rs 4650 crores had been deposited in Agra banks till date, Rs 380 crores were exchanged and Rs 885 crores were withdrawn.

So far, 115 ATMs have been calibrated for the new notes.

Some people complained that the bank managers were helping premium customers and personal acquaintances and providing them with cash, while the aam aadmi, who were lining up outside the banks for 6-7 hours, were not able to withdraw just Rs 2000 due to lack of cash.

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‘NO CASH’ NOTICE UP BY 11 AM IN MANY BANKS

Lead Bank manager Pankaj Saxena told PTI that the banks and administration have informed the RBI about the situation in Agra and the RBI has assured them that it is sending new currency to Agra soon.

He said that the situation will improve as and when the Rs 500 notes will arrive, but at present, all the 469 bank branches were facing an acute shortage of cash.

The cash crunch is so high that a notice of ‘No Cash’ is up at the banks by 11 in the morning itself.

The banks, however, were opening hundreds of accounts every day, with some banks even holding camps to open new accounts.

The Bank of India held a camp on the Shamshabad Road, where 350 new accounts were opened in one day. Those who did not have Aadhar Cards were also given new accounts.

SP TO HOLD DEMONSTRATIONS

BANKS NEED RS 1300 CRORES EVERY DAY, BUT GET ONLY RS 8 CR
A senior bank official told India Today on the condition of anonymity that Agra needed Rs 1300 crores of cash every day, but all the bank branches were receiving a combined sum of only Rs 8 crores per day.

He said that a total of Rs 4650 crores had been deposited in Agra banks till date, Rs 380 crores were exchanged and Rs 885 crores were withdrawn.

So far, 115 ATMs have been calibrated for the new notes.

Some people complained that the bank managers were helping premium customers and personal acquaintances and providing them with cash, while the aam aadmi, who were lining up outside the banks for 6-7 hours, were not able to withdraw just Rs 2000 due to lack of cash.

ALSO READ | Salary in the times of demonetisation: Big test for Modi government in first week of December

‘NO CASH’ NOTICE UP BY 11 AM IN MANY BANKS

Lead Bank manager Pankaj Saxena told India Today that the banks and administration have informed the RBI about the situation in Agra and the RBI has assured them that it is sending new currency to Agra soon.

He said that the situation will improve as and when the Rs 500 notes will arrive, but at present, all the 469 bank branches were facing an acute shortage of cash.

The cash crunch is so high that a notice of ‘No Cash’ is up at the banks by 11 in the morning itself.

The banks, however, were opening hundreds of accounts every day, with some banks even holding camps to open new accounts.

The Bank of India held a camp on the Shamshabad Road, where 350 new accounts were opened in one day. Those who did not have Aadhar Cards were also given new accounts.

ALSO READ | Agra: Banks forced to turn customers away due to zero cash availability

SP TO HOLD DEMONSTRATIONS FROM TOMORROW

Meanwhile, the Samajwadi Party has warned that it will hold massive demonstrations from December 1 against demonetisation..

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The Samajwadi Party City President Raisuddin said that the party was not against demonetisation, but was opposed to the hurried and unprepared way in which demonetisation was implemented.

Hindustani Biradari secretary Ziauddin said that the poor and middle class were worst affected by demonetisation, but if political parties try to inflame the situation by holding sit-ins and demonstrations, the situation would become worse.

He said that at present, it would be better for the political parties to assist the administration in maintaining the law and order in the region instead of politicising the issue.

Sources : PTI

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