Ever since the demonetization was rolled out, we have been inundated with reports of how people have been suffering waiting outside banks and ATMs. But, what about that plight of bankers, who have been working relentlessly for the past two weeks?
Thomas Franco, senior vice president of All India Bank Officers Confederation, which represents over 2.5 lakh bankers, has heavily criticized the govt. and the RBI for lack of insight into consequences before making the high stakes decision.
“The demonetization drive took a severe toll on the health of bankers. As many as 11 bank officers have died in the past two weeks due to stress created by the rush of customers at their desks,” he lamented.
Franco demanded the RBI governor Urjit Patel to resign immediately for causing havoc to the country’s economy and lives of public.
“Prime Minister Narendra Modi and Finance Minister Arun Jaitley are not learnt economists so it is the responsibility of the RBI Governor and his deputies to warn them about the consequences. The Governor has terribly failed in doing his job. Those sitting inside the Central Bank don’t have a basic idea about Indian economy,” he reasoned.
Franco also raised a lot of pertinent questions about the demonetization.
“Why are they not allowing cooperative banks that serve a large part of the rural areas, to exchange notes? Why did they not print Rs 500 notes? Shouldn’t they have realized in advance that the Rs 2,000 notes cannot be dispensed without recalibrating the two lakh ATMs?” he asked.