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If situation worsens, control will be difficult – Intelligence Report on demonetization issue

If situation worsens, control will be difficult – Intelligence Report on demonetization issue

Hyderabad: Intelligence Dept. of Govt. of India submitted a report on the present situation arising out of demonetization of currency. In its report, the agency has expressed apprehensions that if the situation gets worst, it would be difficult to control. The agency advised the banks to arrange proper police pickets since situation has not become normal even after 24 days of demonetization announcement. In many banks, new currency has not yet reached. In most of the banks, new currency is not sufficient. Many ATM centers have put the boards “no currncey” . Even after standing in queues, people are getting money. Many women employees of the banks are proceeding on leave. There are complaints that currency has not reached many rural banks. Every tongue is crying “Money, Money, Money”. On the first day of every month everybody feels happy to get pay but yesterday many faces were grief-ridden. Middle class were hoping that they would get relief by 1st December but all their wishes have been wiped off .

RBI has not sent money to the subsidiary banks according to the needs. Bank Managers and other bank staff are worried and they are expressing their inability to the served the people. There are 1526 banks in Urban areas and their branches. out of which no money was sent to 1100 banks and their branches. Whatever money was sent, it was exhausted within 2 hours. there are 674 banks in urban areas which have 500 branches which did not receive any money.

In the State, there are 3400 ATMs of Nationalized banks, out of which only 400 are functional. Even after standing in lines right from the morning and despite the facility of withdrawing Rs. 24000 every week, banks are giving only Rs. 4-10 thousand. It was expected that the situation would become normal within 15 days but even after the lapse of 24 days, situation did not improve. People are losing their patience.

Central Intelligence Dept. after reviewing the situation closely submitted a report to Govt. of India. In the report, it was apprehended that the situation might be out of control which would create difficulties to the Govt. After receiving this report, Govt. of India issues instructions to RBI and all the State DGPs to make special arrangements to depute policemen near the banks and ATMs.

–Siasat News